The analyst disclosed that the loot included crypto assets worth about $5..4 million, including $4.3 million in USDC, 274 wrapped Ether valued at roughly $553,000, $434,000 in USDT, and 14.16 PAXG tokens priced at about $64,000. According to security firm PeckShield, the bad actor has laundered a portion of the stolen funds through the ChangeNOW and Binance exchanges, but still holds over 2,100 Ether (worth approximately $4.23 million).
Gravity Bridge is a cross-chain protocol that works by locking tokens on the Ethereum network and creating direct replicas of the crypto assets on the Cosmos network, relying on validator signatures to authorize each transfer. Hence, the protocol would treat even forged transactions as legitimate if a bad actor gets the appropriate signing keys.
Crypto Hacks Continue To Pile In 2026As mentioned earlier, Gravity Bridge’s $5.4 million hack joins the growing list of hacks that have rocked the crypto industry, especially the DeFi sector, in 2026. Specifically, bridges appear to have been a soft target for attackers in this period.
