Jannat Ara

Former Employee Accused of Facilitating $80 Million Attack on Orbit Bridge Cross-Chain Protocol

Ozys, the South Korean firm behind the development of the cross-chain bridge Orbit Bridge, has accused a former employee of playing a role in an $80 million attack on the protocol. The company’s investigation suggests that the Chief Information Security Officer (CISO) intentionally weakened internal firewall settings on November 22, 2023. Two days before the incident, the same employee voluntarily submitted a resignation letter. Despite leaving the position on December 6, 2023, the ex-employee failed to alert the company about the changes made to security settings.

Ozys, in collaboration with security company Theori, the National Intelligence Service, local police, and the Internet and Security Agency, is conducting a comprehensive investigation into the incident. The company has refrained from disclosing the identity of the former employee. Reports indicate that Ozys has reported the incident to the police, requesting verification of the information, and has also filed a claim for damages against the ex-colleague.

The police investigation aims to determine whether the former employee allowed unidentified hacking forces to infiltrate by altering security policies and the potential involvement with a hacker group. Ozys has pledged to keep users informed about the recovery plan for the funds and its implementation timeline.

The hacking incident occurred earlier this year, resulting in the unauthorized withdrawal of cryptocurrency assets exceeding $80 million. In response, the developers of Orbit Chain sought assistance from major cryptocurrency exchanges, urging them to freeze the stolen assets. As the investigation unfolds, the company is actively pursuing legal measures against the accused former employee.

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