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

Gravity Bridge, a decentralized blockchain facilitating cross-chain transfers between Ethereum and Cosmos, was reportedly drained of roughly $5.4 million, prompting validators to halt the bridge.

Onchain analyst Specter first flagged the unusual outflows in a Saturday post on X, revealing that the bridge contract key may have been compromised. “It appears the Gravity Bridge contract key may have…