The hacker responsible for the cyberattack on the decentralized cross-chain protocol Orbit Bridge in December has started transferring the stolen cryptocurrency.
Arkham, a digital asset de-anonymizing platform, has observed that the hacker moved 8,671 Ethereum (ETH) valued at $32 million to a new address and is now transferring the funds to Tornado Cash, a contentious coin mixing service that enables anonymous digital asset transactions.
The hacker initially stole over $100 million worth of cryptocurrency from Orbit Bridge at the end of December and still retains $66 million in ETH, along with more than $20 million in the stablecoins DAI and USDT.
Orbit Bridge functions as a bridging service for Orbit Chain (ORC), a cross-chain platform that emphasizes scalability.
In response to the breach, the Orbit Chain team issued notifications urging the hacker to come forward by 10:00 AM on January 11th. Despite this, the hacker did not respond, prompting the project to offer a reward of up to $8 million to anyone who can provide information leading to the identification of the hacker or the recovery of the stolen funds.
At the time of writing, Orbit Chain’s native token, ORC, is trading at $0.00669, marking a decline of over 90% from its value in December, according to CoinGecko.
The US government sanctioned Tornado Cash in 2022 for national security reasons. One of the project’s founders, Roman Storm, was arrested last year and charged with allegedly laundering $1 billion in criminal proceeds, including hundreds of millions of dollars for the Lazarus Group, a North Korean cybercriminal organization under sanctions.
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