Orbit Bridge Ton USD Tether oUSDT

They are separate tokens. CoinGecko lists an oUSDT named Orbit Bridged USDT (Kaia), which runs on the Kaia network, with Kaiascan as its explorer and KLAYSwap as its top exchange. That page covers the Kaia version, not this TON jetton. jUSDT is another USDT on TON: according to ton.app, it is USDT transferred from Ethereum via bridge.ton.org, and it has its own contract. Because the tickers look alike, the full contract address is the most accurate way to tell these tokens apart.

In December 2022 the TON blockchain was connected to Orbit Bridge, a multi-chain bridge service run by the South Korean company Ozys. According to the announcement in TON's Telegram channel, the tokens moving to and from TON were to include Ethereum-based assets such as WBTC, ETH, USDT, USDC and DAI, along with tokens from Polygon and Klaytn. At the time Ozys was also developing Megaton Finance, a decentralised exchange on TON with an automated market maker (AMM). The same TON post said the Ozys exchange on TON was scheduled for release in early January 2023.

On 1 December 2022 a press release from The Open Network announced that TON had connected to Ozys's Orbit Bridge and that the TON Foundation would join the Orbit Bridge validator group, which performs the bridge's on-chain data verification. Ozys CEO Jinhan Choi called Orbit Bridge the first multi-chain bridge connected to TON. Other members of the validator group named at the time included FS Labs, TEB, Cosmostation, Neoply, DSRV, M-block, Despread, Move Labs, B-harvest and Ozys.

On 31 December 2023, from about 20:52 to 21:25 UTC (early on 1 January 2024 in Korea), an attacker took about $81.5 million from Orbit Bridge's Ethereum vault, and the bridge was deactivated at 22:21 UTC. According to The Block, the stolen assets were 30 million USDT, 10 million DAI, 10 million USDC, 231 WBTC and 9,500 ETH. Ozys said its former Chief Information Security Officer had arbitrarily weakened the company firewall, making changes on 22 November 2023. The company filed a lawsuit seeking damages from him and asked the police to investigate his possible role. It also alerted the National Intelligence Service, worked with KISA and was looking into whether the Lazarus group was involved.

Ozys published a recovery plan on 28 February 2024. It proposed resuming the non-Ethereum vaults, TON among them, in April 2024 after replacing validator keys and running audits, while reopening the Ethereum vault depended on finding the cause of the exploit. Ozys also planned to start buying back depegged oAssets in early March 2024, paid for from its business profits. A follow-up plan on 27 September 2024 said the five stolen assets, USDT included, which had been used on networks such as KAIA (Klaytn) and TON, would move to Polygon's Agglayer. They would be transferable to Ozys's new Silicon mainnet only as lockable oAssets, not as native USDT, and a long-term lock-up programme for them was planned for October 2024. By then the XRP bridge had restarted, on 6 September 2024.