Crypto hacker emerged months later: Danger is increasing

The hacker behind the $82 million Orbit Chain attack on New Year’s Eve transferred $47.7 million in cryptocurrency to Tornado Cash after five months of silence.

According to blockchain analysis firm Arkham Intelligence, a total of 12,932 Ether (ETH) worth $47.7 million was sent to a new address via seven transactions to Tornado Cash on June 8th. The attack was reported to have caused $82 million in damages, but Arkham’s recent posts indicate it’s closer to $100 million.

crypto hack attack arkham

Crypto attacker attracts attention with ETH transfers

Arkham, one of the first companies to notice the transfer, said in a June 8th X post, ‘They stole more than $100 million worth of ETH and DAI from Orbit Chain over 5 months ago and have been silent since then.’ Etherscan data shows that the majority of the $47.7 million worth of Ether sent through Tornado Cash was in groups of 100 ETH.

The hacker did not move the stolen 20 million dollars worth of Dai (DAI) or other coins withdrawn from the interchain bridge. The balances are currently at 71.2 million dollars; this includes 51.1 million dollars in Ether and a small amount of Bitcoin (wBTC), Ether (wETH), Orbit Chain (ORC), and USD Coin (USDC).

The attack took place in the final hours of 2023. Orbit Chain confirmed the cyber attack the next day and said it was “actively engaging with international law enforcement.” Orbit Chain’s X account said on January 11: “Those providing definitive intelligence leading to the identification of the attacker or the recovery of stolen assets will receive a reward. We offer a maximum reward of $8 million.”

According to DefiLlama, it is stated that there is approximately 37 million dollars of total value locked in Orbit Chain. However, this figure is 75 percent lower than the value of 149.25 dollars locked in the protocol just a few hours before the December 31 attack.

This article does not contain investment advice or recommendation. Every investment and trading operation carries risk, and readers should conduct their own research when making decisions.