January 2, 2024 at 03:46PM
Orbit Chain suffered a security breach resulting in an $86 million loss, involving assets like Ether, Dai, Tether, and USD Coin. The breach, suspected to be the work of sophisticated state-sponsored attackers possibly from North Korea, prompted a collaboration with Korean authorities. Stolen funds are being tracked internationally, and caution is advised against scammers using fake refund portals.
From the meeting notes, it is evident that Orbit Chain has experienced a significant security breach resulting in a loss of $86 million in cryptocurrency, including Ether, Dai, Tether, and USD Coin. The unauthorized transaction occurred on December 31, 2023, and led to substantial losses estimated at $86,000,000. The exploit leveraged by the unidentified hackers is still unknown, and there are indications that they may be sophisticated state-sponsored attackers possibly based out of North Korea. Orbit Chain is collaborating with the Korean National Police Agency and Korea’s Internet and Security Agency to address the situation. Furthermore, scammers are using verified accounts on X to promote phishing sites, posing as refund portals to steal assets and NFTs from connected wallets. This security incident and associated risks demand heightened vigilance and an immediate strategic response.
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