The Last hack of the year 2023

[jrrsparkles]

Orbit Chain, a platform that communicates and transacts with various blockchains, has lost $81 million after hackers exploited the platform's cross-chain bridge.
The project confirmed the hack in a post on X, saying a hacker funded a wallet using sanctioned privacy protocol Tornado Cash before attacking Orbit Chain's ethereum (ETH) vault. Proceeds of the hack were then sent to numerous Ethereum wallets. These wallets currently hold 26,741.6 ETH ($64 million) and around $18 million of the dai (DAI) stablecoin.
Orbit Chain added that the funds are "unmoved."

Orbit Chain Loses $81M in Cross-Chain Bridge Exploit


In crypto history every year is filled with lots of hacks and scams and 2023 is no exception as far as I know this is the last hack of the year 2023. And my question is will there be a year with no such hacks?

[tjtonmoy]

In crypto history every year is filled with lots of hacks and scams and 2023 is no exception as far as I know this is the last hack of the year 2023. And my question is will there be a year with no such hacks?

I don't think there will be any year without any hacks. Doesn't matter how strong you make something, if the right person chooses to exploit it, he can do it. Everything on the internet is a piece of codes. If a person knows how it works, they can always create something to stop that workflow and get into the back door in order to hack it. As I mentioned previously, it has to be the right person to do it.

Anything that is on the internet could be hacked and there's no surprise there. For that reason I don't think that will be anytime or any year in which we won't see any hacks. Targeting the cryptocurrency market is much profitable than targeting other things. And that's why people will keep trying to hack these things. Just make sure you take appropriate precautions for keeping your assets safe.

[Makus]

Cryptocurrency is one of the major targets of hackers. Based on the hacks we've experienced in the network, I think it's becoming really easy for hacker to penetrate. I don't know for sure if its because most of the projects are open source that's why, but the hacks are becoming too frequent. I don't think hackers are planing of ending this process any time sooner. Just as tjtonmoy said, the best option for us all, is to maximize our security even if it  doesn't guarantee us a 100% security, take the best security measures by keeping your assets in a wallet rather than keeping them in an exchange.

[Dunamisx]

Hack will never be ending as long as it is being done by people and they can't be all stopped on this because the more some into this were being apprehended others are also coming to join and so it all continue this way, we are the one to make sure that we know what we are doing, we must avoid any possible means of making use of a centralized institution to hold our financial assets because they are not also secured or free from being hacked, why are we then seeking safety in where vulnerability is the order of the day.

[jrrsparkles]

Hack will never be ending as long as it is being done by people and they can't be all stopped

I would say it is upside down, the hackers will become useless once people learn about the importance of internet security which is much lacking in the current era even though we are connected to the internet 24/7. Maybe they will learn over time from their mistakes from the past but its a long path and its not the best choice cause it could at least take a century to learn in that way.

The importance of privacy, internet security and many more things should be added into the curriculum of academics in the school itself to see the change more rapidly.

[Mate2237]

Major hacks in the cryptocurrency ecosystem space are popular in the forum every year but I didn't hear this one from the main boards. Or is it because the hack is for altcoin? The amount they hacked form the company [Orbit] is very big. I don't know why ball this cryptocurrency companies are careless about their website security. If you are dealing with a financial services in the internet, you have to more proactive to secure your services because definitely hackers must attempt to hack it. Even physical banks arm robbers attack so no financial institution or company is saved in anywhere.

Hacking now is norm for them. Every year we must hear one hacking to another. I believed it was last year Stake.com was also hacked.

[TimeTeller]

Major hacks in the cryptocurrency ecosystem space are popular in the forum every year but I didn't hear this one from the main boards. Or is it because the hack is for altcoin? The amount they hacked form the company [Orbit] is very big. I don't know why ball this cryptocurrency companies are careless about their website security. If you are dealing with a financial services in the internet, you have to more proactive to secure your services because definitely hackers must attempt to hack it. Even physical banks arm robbers attack so no financial institution or company is saved in anywhere.

Hacking now is norm for them. Every year we must hear one hacking to another. I believed it was last year Stake.com was also hacked.

We can't totally avoid the fact that hacking is already a part of online fraud.
As softwares are getting advanced, these scammers will always find a way to siphon the funds of the site.
The very reason why business owners should allocate funds for their security as it is not a wasted allocation.
I don't think hacking will stop anytime soon, this will just be a part of online business that they need to take care of.

[Mate2237]

We can't totally avoid the fact that hacking is already a part of online fraud.
As softwares are getting advanced, these scammers will always find a way to siphon the funds of the site.
The very reason why business owners should allocate funds for their security as it is not a wasted allocation.
I don't think hacking will stop anytime soon, this will just be a part of online business that they need to take care of.

Hacking will will never stop. Those who developed the good software are the same people that also developed the hacking software. And government officials use these hackers not do work for them. I think there was a hacking issue in my country last year and a government officials were involved in the act. Most of these hacking are sponsored by politicians and big business men to undo their business partners.

Capitalism is the cause of all these because businessmen are trying to compete with their counterparts in profit making and they want to over take them so they have to do something to subdue them. Hacking will only die with human beings.

[batang_bitcoin]

I thought that I will be seeing the year without this type of news. But I was wrong.

And my question is will there be a year with no such hacks?

Sadly, it seems that this becomes a normal thing yearly. We will see them with small or huge hacks since these exploiters and hackers will never stop in targeting these platforms they see some loop holes.

[albon]

In crypto history every year is filled with lots of hacks and scams and 2023 is no exception as far as I know this is the last hack of the year 2023. And my question is will there be a year with no such hacks?

This is unfortunate news as Orbit Chain was the last scam to conclude in 2023, and the stolen funds were not small; the ORC currency also experienced a rapid decline of over 5% immediately following this incident.

It is worth noting that there are new updates on the official Orbit platform's account  ^[1], suggesting that their team identified a significant clue lead in tracking the stolen funds just hours ago. Their team and developers seem to be attempting to address this matter, and we hope they succeed. However, this underscores the importance for everyone to enhance the security of their wallets and revoke any platforms to which the wallet is linked, and not to place massive capital on one wallet and the primary wallet that carries the capital must not have relied upon to sign transactions and interact with the DApp because scammers are everywhere. No platform is 100% secure. Perhaps if the platforms’ security and development team intensifies their efforts, increases security, and addresses loopholes, the scam rate will reduce in 2024, but in my opinion, it will not end.

[o48o]

Major hacks in the cryptocurrency ecosystem space are popular in the forum every year but I didn't hear this one from the main boards. Or is it because the hack is for altcoin? The amount they hacked form the company [Orbit] is very big. I don't know why ball this cryptocurrency companies are careless about their website security. If you are dealing with a financial services in the internet, you have to more proactive to secure your services because definitely hackers must attempt to hack it. Even physical banks arm robbers attack so no financial institution or company is saved in anywhere.

Hacking now is norm for them. Every year we must hear one hacking to another. I believed it was last year Stake.com was also hacked.

It's not the websites that are getting hacked. It's the cross bridge attack, which is most famous attack vector for hackers and yet people keep on moving money on those. Stake also is very different thing as centralized service. But at least centralized services afford to get hacked from time to time as they don't keep everything on hot wallets and they have people monitoring the any anomalies all the time. Which mean they can shut down accounts and block attacks.

We can't totally avoid the fact that hacking is already a part of online fraud.
As softwares are getting advanced, these scammers will always find a way to siphon the funds of the site.
The very reason why business owners should allocate funds for their security as it is not a wasted allocation.
I don't think hacking will stop anytime soon, this will just be a part of online business that they need to take care of.

I understand this threat on centralized services. But decentralized finance should the leading edge for financial security. That's the main reason it exist, yet people keep on playing with experimental questionable tech like cross bridges.

[Yogee]

Cross-chain protocols are on the rise in 2023 and will likely continue despite what happened to Orbit. It's really unfortunate but this reminds us the fact there are still point of attacks to these "decentralized" platforms. It's another call for these developers to look into their product and fix any loophole that could be exploited.

[Fundamentals Of]

This hack just happened in time and caught the 2023 train just before it finally left. And just like that, another bridge has fallen. The list has already been long and I don't think Orbit Chain is the last to succumb. Cross-chain bridges may be helpful but highly risky. People should be avoiding it.

In 2022 alone, there were already at least 13 cross-chain bridges that were hacked and billions were lost. It continued last year, with Multichain losing $125 million. The final day also had the final hack with a damage of $81 million. I hope 2024 will have low numbers in terms of hack and stolen funds.

[milewilda]

This hack just happened in time and caught the 2023 train just before it finally left. And just like that, another bridge has fallen. The list has already been long and I don't think Orbit Chain is the last to succumb. Cross-chain bridges may be helpful but highly risky. People should be avoiding it.

In 2022 alone, there were already at least 13 cross-chain bridges that were hacked and billions were lost. It continued last year, with Multichain losing $125 million. The final day also had the final hack with a damage of $81 million. I hope 2024 will have low numbers in terms of hack and stolen funds.

A really never ending thing on which hacks and exploits would really to continue as long everything is really that built up by codes. There no such thing about perfect security and there would really be those loopholes that might be discovered and this is where security things do kicks in. I can say that we do have least hack incidents as of this year comparing into those previous ones. We've been able to see still have those hacks in the past
even though the numbers are less into that year 2023 but still a devastating one. This is why its never been that recommended on storing up your coins into something which you dont possess the keys or
even into those bridges on which i dont really have that much confidence on making use of it.

Somewhat it is really something unavoidable on not to make use of these services knowing that it is really that always been part on day to day transactions specially if you are an active
trader or investor on which you would really be making use of these things.

[Bureau]

I doubt there would be a year where hack will not happen. Developers should need to first work on the vulnerability and loophole of thier product. They should check the issues before deploying thier blockchain. Since the Ethereum in those wallets have not moved yet. The developer still can retrieve the hacked amount if they can contact the hackers. In the past Matic was able to get it's hacked amount by contacting the hacker and rewarding him.

[jrrsparkles]

In crypto history every year is filled with lots of hacks and scams and 2023 is no exception as far as I know this is the last hack of the year 2023. And my question is will there be a year with no such hacks?

This is unfortunate news as Orbit Chain was the last scam to conclude in 2023, and the stolen funds were not small; the ORC currency also experienced a rapid decline of over 5% immediately following this incident.

It is worth noting that there are new updates on the official Orbit platform's account  ^[1], suggesting that their team identified a significant clue lead in tracking the stolen funds just hours ago. Their team and developers seem to be attempting to address this matter, and we hope they succeed. However, this underscores the importance for everyone to enhance the security of their wallets and revoke any platforms to which the wallet is linked, and not to place massive capital on one wallet and the primary wallet that carries the capital must not have relied upon to sign transactions and interact with the DApp because scammers are everywhere. No platform is 100% secure. Perhaps if the platforms’ security and development team intensifies their efforts, increases security, and addresses loopholes, the scam rate will reduce in 2024, but in my opinion, it will not end.

It is good to know that the team is investigating on the hack and got a clue but I am afraid they can never recover the stolen funds from the hackers because it happened very rarely in crypto history and some of them are even only due to negotiating with the hacker and offering certain percentage as rewards and clean money if they return the hacked funds.

Honestly, the development team should offer the bounty to identify the security exploits in the preliminary stages to find the bugs that can be exploited.

[cryptoaddictchie]

I really thought it was Orbiter Finance that got hacked but the Orbit Chain due to similarity of name. If orbiter got hacked many have been affected that badly cause it is one of the larget bridge platform in all L1 and L2. But hearing this is too sad for Orbit Chain. $81million isnt a joke and those hackers are really trying to drain all potential target. Might be the lazarus group again?

[btc78]

And my question is will there be a year with no such hacks?

Of course not especially that the crypto world is continuously increasing by year and getting more and more money in

In the next following years, we can anticipate hacks as we are nearing a bullish market wherein more people are gonna want to attempt to take as much money as they can
maybe in the future, cryptocurrencies would have so much security but hackers would be just as smart or even smarter and try to penetrate layers of security

[Silberman]

And my question is will there be a year with no such hacks?

Of course not especially that the crypto world is continuously increasing by year and getting more and more money in

In the next following years, we can anticipate hacks as we are nearing a bullish market wherein more people are gonna want to attempt to take as much money as they can
maybe in the future, cryptocurrencies would have so much security but hackers would be just as smart or even smarter and try to penetrate layers of security

The code being created by the developers of new projects simply does not go through enough eyes, and as long as that is the case hackers will steal as much money as they want since the security of that code is very low, as creating code that does something is easy, creating code that has been tested against all possible attempts hackers could make to crack it is hard, and it is obvious that most projects do not have the personnel to do this.

[johnsaributua]

progress and success of crypto This is what makes the appeal of cryptocurrencies, I mean, speed, ease and simplicity to use and store blindly more and more people are storing crypto currencies. Also the gap for crime there are ways to use, do not let your guard down even if you use an easily affordable ratio of sense.

Speaking of scammers who don't transfer their stolen assets, does that mean that this perpetrator is a dirty game of former crypto dealers in the past?

The security developments that are always updated in cex dex or the developer of a coin must be periodic upgrades, unfortunately the loopholes are also learned by people who don't care about crime. crypto functions are very complete in providing access to cash out funds including new oracles, making people very determined to become scamers, it's terrible. hopefully there is a legal umbrella, even though crypto is anonymous but the money that is stolen is real money, yes fiat value. and it's no joke.