Orbit Chain (2024) — Crypto Hack
Partially RecoveredOrbit Chain's Ethereum bridge multisig was compromised, with $82M drained in the final hours of 2023.
Summary
Orbit Chain's Ethereum bridge multisig was compromised, with $82M drained in the final hours of 2023.
How It Was Compromised — Bridge via Private Key Compromise
Orbit Chain, a Korean cross-chain bridge protocol, lost $82M on New Year's Eve 2023 when attackers compromised enough multisig private keys to authorize withdrawals from the bridge's Ethereum vault. The attack targeted multiple asset types simultaneously across 5 transactions.
Fund Flow & Laundering Analysis
Stolen ETH deposited into Tornado Cash immediately post-hack. USDT frozen by Tether on attacker's address. Other stablecoins converted to ETH and laundered via Tornado Cash in batches. Korean authorities and Orbit Chain worked with global exchanges to freeze any identifiable funds. Small portion frozen.