South Korea Probes $82 Million Orbit Bridge Hack, Suspects Lazarus Group

Orbit Bridge fell victim to an exploit just hours before New Year’s Eve, resulting in a staggering loss of nearly $82 million. The incident has triggered a comprehensive investigation involving multiple South Korean agencies, with allegations pointing towards North Korea’s hacking group, ‘Lazarus,’ as the potential orchestrator.

Orbit Bridge, a critical component of the Claytont ecosystem, connected various platforms within the Korean blockchain space. Major players, including Kakao’s blockchain platform Claytont and WEMIX, a blockchain project by WEMADE, relied on this bridge for seamless operations.

The involvement of South Korea’s National Intelligence Service (NIS) in the investigation signals an unusual level of engagement in a blockchain-related virtual asset theft. The operating company of Orbit Bridge, OZYS, reported the incident to the Korea Internet & Security Agency (KISA) and the National Police Agency on January 1st, adhering to mandatory reporting obligations under the Information and Communication Network Act.

With allegations pointing to North Korea’s Lazarus group as the potential culprit, the NIS has taken a lead role in the ongoing investigation. While no direct link to North Korea has been confirmed, collaboration with relevant agencies is underway, and the possibility is being considered, according to local news reports.

The incident follows the typical pattern in the cryptocurrency space where cybercrime incidents prompt the involvement of agencies like the Cyber Investigation Division of the National Police Agency and KISA. However, the inclusion of the NIS in this case is deemed exceptional, highlighting the severity and potential geopolitical implications associated with the hack.

Orbit Bridge Cooperation and Global Assistance

OZYS, the operating company of Orbit Bridge, has actively cooperated with the investigation, promptly reporting the incident and seeking assistance from global blockchain analysis firms such as UPsala Security and the TON Foundation. This collaborative effort aims to trace the origins of the exploit and mitigate its impact.

As repercussions from the exploit resonate within the Claytont decentralized finance (DeFi) sector and across the entire ecosystem, OZYS is expecting support from Claytont in resolving the crisis and assisting affected parties. Further details on the joint response by OZYS and Claytont in addressing the incident are anticipated to be released in the coming days.

This high-profile incident shows the vulnerabilities within the blockchain space and the growing importance of global cooperation in addressing and preventing such cyber threats. The ongoing investigation will likely shed light on the extent of the breach and may have far-reaching implications for the security measures implemented within the blockchain industry.