Orbit Chain offers $8M bounty as efforts to recover funds intensify

January 11, 2024 03:56 AM PST | By Invezz

Orbit Chain offers $8M bounty as efforts to recover funds intensify — Image source: Invezz

Orbit Chain’s ultimatum to attackers

At precisely 2:30 PM (UTC+9) on January 9, Orbit Chain issued a stern ultimatum to the attackers responsible for the recent cybersecurity breach. The communication outlined the final deadline for negotiations, signalling the termination of all standard protocols, including the bug bounty program, at 10:00 AM (UTC+9) on January 11, 2024.

Orbit Chain Community Members.

At around 2:30 PM(UTC+9) today, Orbit Chain Team notified the attackers the final deadline for negotiations.

All communications based on standard protocols, including bug bounty will terminate after 10:00 AM(UTC+9) on 11th January 2024.

If the…
— Orbit Chain (@Orbit_Chain) January 9, 2024

This decisive action from Orbit Chain reflects the urgency and seriousness with which the platform is addressing the breach. The termination of negotiations sets the stage for the next crucial phase in their response to the exploit.

$8 million bounty for information on hackers

After terminating negotiations with the attackers Orbit Chain will extend the bounty to the public, offering a maximum reward of $8 million. This move is aimed at leveraging the collective intelligence of the global community to identify the attackers or facilitate the recovery of stolen assets.

The final deadline for negotiation on the exploit terminated as of 10am(UTC+9) today.

We are now extending the bounty to the public. As a maximum reward, we are offering $8M USD.

Those who provide decisive intelligence that leads to identifying the attacker or recovering stolen…
— Orbit Chain (@Orbit_Chain) January 11, 2024

The platform encourages active participation from the broader cryptocurrency ecosystem. Those with decisive intelligence are urged to contact Orbit Chain. The bounty underscores the severity of the situation and the platform’s commitment to tracking down the perpetrators.

Orbit Chain has made it clear that negotiations will cease immediately if the Democratic People’s Republic of Korea (DPRK) or any related organization is found to be responsible for the exploit. The platform is leveraging every available resource and collaborating with law enforcement agencies, including the Korean National Police Agency and KISA (Korea Internet & Security Agency), to ensure a comprehensive and robust response.

Orbit Chain’s $8 million bounty to the public signals a collective effort to stand resilient against the exploit and recover the compromised assets. The platform’s proactive approach, coupled with global collaboration, marks a determined stance against cyber threats within the cryptocurrency space.

The post Orbit Chain offers $8M bounty as efforts to recover funds intensify appeared first on Invezz

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