#gravitybridge
gravitybridge
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Gravity Bridge halts operations after a suspected 5.4M dollar exploit due to signing key compromise. Investigation is ongoing. Stay cautious. #GravityBridge #Cosmos #CryptoSecurity #Blockchain
Gravity Bridge Hacked: $5.4M Drained in Key Compromise, Bridges Remain Vulnerable
Gravity Bridge just got hit for $5.4 million. The damage wasn't a fancy smart contract exploit; it was a straight-up compromised signing key. Attackers nabbed $4.3 million in USDC, 274 ETH, and a chunk of USDT, proving bridges are still the Wild West of crypto security.
The hacker moved fast, swapping stablecoins for ETH and laundering some of the loot through ChangeNow and Binance. This isn't a new script. Bridges are the choke points, and when those keys get compromised, the funds vanish like smoke.
This exploit underscores a brutal reality: bridges remain crypto's Achilles' heel. With $11.5 million TVL before the drain, Gravity Bridge was a target. The pattern of key failures and massive bridge hacks, totaling hundreds of millions in May alone, shows no sign of stopping. Until this is fixed, expect more pain.
#gravitybridge #cosmos #ethereum #usdc #eth
Gravity Bridge just got hit for $5.4 million. The damage wasn't a fancy smart contract exploit; it was a straight-up compromised signing key. Attackers nabbed $4.3 million in USDC, 274 ETH, and a chunk of USDT, proving bridges are still the Wild West of crypto security.
The hacker moved fast, swapping stablecoins for ETH and laundering some of the loot through ChangeNow and Binance. This isn't a new script. Bridges are the choke points, and when those keys get compromised, the funds vanish like smoke.
This exploit underscores a brutal reality: bridges remain crypto's Achilles' heel. With $11.5 million TVL before the drain, Gravity Bridge was a target. The pattern of key failures and massive bridge hacks, totaling hundreds of millions in May alone, shows no sign of stopping. Until this is fixed, expect more pain.
#gravitybridge #cosmos #ethereum #usdc #eth
The Gravity Bridge has been exploited, with approximately $5.4M in assets drained.
The stolen funds include:
🔹 $4.3M $USDC
🔹 274 $ETH (~$553K)
🔹 $434K $USDT
🔹 14.16M $PAYG (~$64K)
The attacker has already moved part of the stolen funds through ChangeNow and Binance, while still holding around 2,102 ETH worth approximately $4.23M
#GravityBridge
The stolen funds include:
🔹 $4.3M $USDC
🔹 274 $ETH (~$553K)
🔹 $434K $USDT
🔹 14.16M $PAYG (~$64K)
The attacker has already moved part of the stolen funds through ChangeNow and Binance, while still holding around 2,102 ETH worth approximately $4.23M
#GravityBridge
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