Gravity Bridge lost approximately $5.4 million in a Friday hack. The attacker moved stolen funds through Binance and Changenow. This exploit highlights persistent security gaps in cross-chain protocols.
The $5.4M Drain
On May 30 attackers emptied Gravity Bridge's reserves. The cross-chain protocol connects Ethereum and the Cosmos ecosystem. It's built to transfer tokens between these networks. This incident's scale matters. Bridge hacks remain a top risk for DeFi users. The timing wasn't great with Friday trading volume high.
Where the Money Went
The thief routed funds through Binance and Changenow. These platforms processed the stolen assets within hours. It's unclear how long transactions stayed on either service. Such routing typically obscures trails. The attacker didn't leave any public message. They didn't try to cover their tracks beyond standard mixing tactics. The move followed patterns seen in past bridge exploits.
Peckshield's Report
Blockchain security firm Peckshield first reported the incident. They provided the only public details about the hack. The firm didn't specify how attackers bypassed Gravity Bridge's defenses. Peckshield didn't reveal if they'd traced the final destination. Their alert noted the funds' path through both platforms. This confirms the attacker used established laundering methods.
What Users Face Now
Gravity Bridge remains offline with no timeline for resumption. Users can't move tokens between Ethereum and Cosmos. Many had funds locked in the protocol. That's a serious problem for affected holders. The bridge's operators haven't issued a statement. Peckshield said they'd update findings as new information emerged. The situation stays fluid with users waiting for answers.
