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Orbit Bridge

2024-01-03, Rekt


Orbit Bridge - REKT
It wasn’t just fireworks blowing up on New Year’s Eve.
The final hours of 2023 saw Orbit Chain’s Ethereum bridge lose $81.5M to what looks to have been a compromised multisig.
Not to be confused with Orbiter, which connects ETH L2s, Orbit Chain is a standalone network aiming to work as a hub between other established ecosystems.
The attack began just after 9PM UTC, and the alarm was raised just a few minutes later.
The official acknowledgement referenced a breach shortly before the transactions began…
An unidentified access to Orbit Bridge, a decentralized Cross-chain protocol, was confirmed on Dec-31-2023 08:52:47 PM +UTC.
…and was accompanied by warnings about opportunistic phishing attacks.
With 2023 ending on a bit of a downer, for Orbit at least, what will 2024 bring?
Credit: Tayvano, Peckshield
While the hack is initially assumed to be due to compromised keys of signer-addresses on the Orbit’s ETH Vault multisig, the team is yet to …