TheBlock
Gravity Bridge, the cross-chain protocol connecting Ethereum and the Cosmos ecosystem, was drained of roughly $5.4 million early Saturday after security researchers flagged what appears to be a compromised signing key rather than a flaw in the underlying smart contract code. Onchain analyst Specter first spotted the unusual outflows; PeckShield later corroborated the breach and broke down the stolen assets: approximately $4.3 million in USDC, $553,000 in wrapped ether, $434,000 in Tether, and roughly $64,000 in PAXG.
The Gravity Bridge team confirmed the incident on X, instructing validators to halt their validators and orchestrators while the investigation is ongoing. The bridge itself is currently halted.
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