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Guavy AI Editorial Team••Sentiment: -4•Clout: 78

Gravity Bridge Hit by $5.4 Million Hack Due to Suspected Contract Key Compromise

USDTETHATOMUSDC

The Gravity Bridge, a cross-chain infrastructure connecting Ethereum and the Cosmos ecosystem, has suffered a significant security breach. On May 30, blockchain security firms PeckShield and Cyvers flagged a potential hack on the bridge, which resulted in the theft of approximately $5.4 million.

According to on-chain analysts, the attack is believed to have occurred due to a compromise of the bridge contract key or signing path. The attacker successfully drained four assets from the Ethereum-side contract, including:

  • $4.3 million in USDC
  • 274 ETH (valued at approximately $553,000)
  • $434,000 in USDT
  • 14,164 PAYG tokens valued at about $64,000