Cosmos-Based Gravity Bridge Halts After Reported $5.4M Exploit

Gravity Bridge, a decentralized blockchain that moves tokens between Ethereum and Cosmos, was reportedly drained of roughly $5.4 million, prompting validators to halt the bridge. Onchain analyst Specter first flagged unusual outflows in a Saturday post on X, saying, “It appears the Gravity Bridge contract key may have been compromised, resulting in the theft of $5.4M.” Security firm PeckShield confirmed the exploit and broke down the stolen assets as about $4.3 million in USDC, 274 Wrapped Ether (WETH) worth roughly $553,000, $434,000 in USDt and 14.164 PAX Gold (PAXG) tokens worth about $64,000.

PeckShield reported some funds were laundered through instant-swap service ChangeNow and via Binance, while the theft wallet still held around 2,102 ETH worth approximately $4.23 million at the time of its report. The Gravity Bridge team acknowledged the incident on X and urged validators and orchestrators to halt operations while investigations proceed, later confirming the bridge had been halted.

gravity bridge, ethereum, cosmos, exploit, usdc, weth, paxg, peckshield, changenow, validators