Gravity Bridge Suffers $5.4 Million Hack, Asks Validators to Halt Operations
Summary
- Cosmos-based cross-chain bridge Gravity Bridge said it suffered a $5.4 million hack, with signs pointing to a possible compromise of its contract key.
- The stolen assets included USDC, WETH, USDT and PAXG. Some of the funds were laundered through ChangeNOW and Binance, and the hacker’s wallet still held 2,102 ETH.
- Gravity Bridge acknowledged the attack on its official X account and asked validators to halt validator and orchestrator operations. It later said the bridge had been halted.
Forecast Trend Report by Period
Gravity Bridge, a Cosmos-based cross-chain bridge, has suffered a hack worth about $5.4 million.
Cointelegraph reported on May 31 that on-chain analyst Spreek wrote on X that Gravity Bridge’s contract key appeared to have been compromised and that $5.4 million had been stolen.
Blockchain security firm PeckShield also confirmed the hack. The stolen assets were estimated at $4.3 million in Circle’s USDC, 274 Wrapped Ether worth $553,000, $434,000 in Tether’s USDT and $64,000 in Pax Gold.
PeckShield wrote that some of the stolen funds were immediately laundered through instant exchange service ChangeNOW and Binance. At the time of the report, the hacker’s wallet still held 2,102 Ether worth about $4.23 million.
Gravity Bridge also acknowledged the attack. In a post on its official X account, the project said an “unfortunate incident” had occurred at Gravity and asked validators to stop validator and orchestrator operations while the investigation continued. It later announced that the bridge had been halted.
Gravity Bridge is a cross-chain bridge that supports asset transfers between the Ethereum and Cosmos ecosystems. It allows Ethereum-based assets to be moved to Cosmos wallets and decentralized exchanges such as Osmosis, or Cosmos-based assets to be transferred to Ethereum-based platforms including Uniswap.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
