Orbit Chain bridge hack
About $81.5M was drained from the Orbit Bridge (by South Korea's Ozys) on Dec 31, 2023 – Jan 1, 2024, via weak withdrawal/signature validation. Ozys later said a former security chief had weakened its firewall weeks earlier and pursued legal action.
Also known as: Orbit Chain, Orbit Bridge, Ozys
Summary
Orbit Chain operates the Orbit Bridge, a cross-chain bridge built by the South Korean firm Ozys. Beginning late on December 31, 2023 (UTC), an attacker drained about $81.5 million in ETH, WBTC, USDT, USDC, and DAI from the bridge's Ethereum vault in a series of transactions, exploiting weaknesses in its withdrawal and signature-validation logic. [1][2]
Aftermath
The stolen funds were swapped to ETH/DAI and dispersed across wallets. In January 2024, Ozys said that while reviewing firewall policy it discovered its former Chief Information Security Officer had "arbitrarily" weakened the firewall in November 2023, shortly before leaving the company, and that it was pursuing civil and criminal action. Ozys's earlier projects (e.g., KlaySwap, Belt Finance) had also been hacked. [1][3]
Bracketed numbers refer to the numbered sources listed below.
Linked scams & cases
People & entities involved
Sources (3)
- Official Statement Regarding 'Orbit Bridge Exploit' — Orbit Chain (Ozys)
- $80M lost in first hack of 2024 (Orbit Bridge) — Blockworks
- Orbit Chain loses $86 million in the last hack of 2023 — BleepingComputer
See also
- Loci (LOCIcoin)TokensA 2017–2018 ICO for 'LOCIcoin' tied to the InnVenn IP-search platform. The SEC charged Loci and CEO John Wise with fraud for raising $7.6M on false claims about revenue, headcount, and user base; Wise also misused investor funds. Settled with a $7.6M penalty and an officer/director bar.
- Blockchain Terminal (BCT)TokensA 2017–2018 ICO (BCT tokens, ~$30M) for a 'Blockchain Terminal' — a Bloomberg-style crypto trading terminal. The SEC and DOJ said convicted ex-hedge-funder Boaz Manor secretly ran it under a fake identity ('Shaun MacDonald'), using associate Edith Pardo as a front, and lied about the product's adoption.
- Crowd Machine (CMCT)Tokens
This page was last updated on Jun 8, 2026. View revision history.