Gravity Bridge Exploit Results in $5.4 Million Theft

On May 30, 2026, Gravity Bridge, a cross-chain bridge between Ethereum and Cosmos, was exploited, resulting in a theft of approximately $5.4 million. The attack is believed to have been facilitated by a compromised bridge contract key, allowing the hacker to drain assets including $4.3 million in USDC, 274 ETH (around $553,000), $434,000 in USDT, and 14,164 PAYG tokens valued at $64,000. Blockchain security firms PeckShield and Specter identified the incident, which highlights ongoing vulnerabilities in cross-chain infrastructure. As of the latest reports, the attacker retains about 2,102 ETH (valued at roughly $4.23 million) in their wallet, with some stolen funds already laundered through services like ChangeNow and Binance. Gravity Bridge has not yet issued an official statement regarding the incident. The exploit underscores the increasing risks associated with cross-chain bridges, which have become prime targets for cybercriminals.

Key Points: • Gravity Bridge lost approximately $5.4 million due to a contract key compromise. • The stolen assets included $4.3 million in USDC and 274 ETH, among others. • The attacker is still holding around 2,102 ETH, complicating recovery efforts.