Cross-chain protocol Gravity Bridge suffered a security breach resulting in the loss of approximately $5.4 million. According to blockchain analysts, the attack likely resulted from compromised signing keys rather than flaws in the smart contract code.
Assets reportedly stolen included USDC, wrapped Ether, Tether, and PAXG, which were transferred to an unauthorized wallet.
The breach was first identified by on-chain analyst Specter and later confirmed by security firm PeckShield. This incident highlights ongoing security challenges facing cross-chain infrastructure, where vulnerabilities in credential management can lead to significant financial losses.
Investors and analysts caution that cross-chain protocols must implement stricter key management protocols and security audits to prevent such breaches.
The event also underscores the inherent risks of decentralized networks and the need for comprehensive safeguards when transferring digital assets across chains.
Gravity Bridge lost $5.4M on May 30 in a suspected signing key compromise.
Researchers including PeckShield and Specter say the attacker used compromised validator keys for unauthorized withdrawals—$4.3M USDC, 274 ETH (~$553k), $434k USDT, and $64k PAXG—rather than a smart…
— unfolded. (@cryptounfolded) June 1, 2026
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