Gravity Bridge was drained of roughly $5.4 million in a suspected signing key compromise, prompting validators to halt the bridge while an investigation is underway.
Gravity Bridge, a decentralized blockchain facilitating cross-chain transfers between Ethereum and Cosmos, was reportedly drained of roughly $5.4 million, prompting validators to halt the bridge.
Onchain analyst Specter first flagged the unusual outflows in a Saturday post on X, revealing that the bridge contract key may have been compromised. “It appears the Gravity Bridge contract key may have been compromised, resulting in the theft of $5.4M,” Specter wrote.
Security firm PeckShield also confirmed the exploit in a post, breaking down the stolen assets as approximately $4.3 million in USDC (USDC), 274 Wrapped Ether (WETH) worth roughly $553,000, $434,000 in USDt (USDT) and 14.164 PAX Gold (PAXG) tokens worth about $64,000.
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