The hacker behind the theft of $48 million from Orbit Bridge has returned to the scene with the intention of transferring the funds using Tornado Cash. Incidentally, the figure hacked has now reached the value of $121 million, having passed a substantially long period.
For those who are unfamiliar, Orbit Bridge serves as a bridging solution for the Orbit Chain cross-chain protocol.
According to Akham Intelligence, the hacker has re-emerged to shift the loot to the Ethereum-oriented mixing solution, Tornado Cash.
On-chain data revealed that the hacker moved almost 13,000 ether worth $50 million to a new wallet before using Tornado Cash to conceal the movement. Presently, the hacker has in his possession $71 million worth of ether and DAI stablecoins.
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Although the hacker’s re-entry remains somewhat mysterious, it is believed that Orbit Bridge’s plan to relaunch a portion of its bridging business is the cause.
On its part, the Orbit Bridge team is engaging with the concerned officials to come up with a viable solution to the entire situation.
Meanwhile, the protocol maintains its stance, asserting that neither the Orbit Bridge smart contract nor the siphoning of a validator key contributed to the hacking.
In fact, the company appears to be pointing its fingers at the former chief information officer for initiating the hack.
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The crypto space is known to have suffered losses to the tune of $336 million through hacks in the first quarter of this year itself, a situation that is searching for immediate remedies and a wholesome solution.
