Gravity Bridge hack drains $5.4M as TVL crashes 47% – Details

Gravity Bridge, a cross‑chain protocol connecting Ethereum [ETH] with the Cosmos ecosystem, was attacked on the 30th of May, adding to the string of exploits seen in 2026. According to on‑chain investigator Specter, the breach compromised roughly $5.4 million.  In this contract key compromise, a total of four assets were drained, which includes $4.3 million in Tether (USDT), 274 ETH worth $553K, $434K in Circle (USDC), and 14.164 PAYG worth $64K.    Funds laundered and steps taken That said, the attacker went further, laundering part of the stolen assets via ChangNow and Binance [BNB]. According to Specter, the attacker held roughly 2,102 ETH worth $4.23 million, indicating that most of the lost stolen funds were still left with the wrongdoer.    As soon as the attack came to the surface, Gravity Bridge was fast enough to take to X and noted,  Validators should halt their validators and orchestrators while this incident is being investigated. Within hours, the cross-chain protocol further added,   Thanks to the swift action of validators, the bridge is currently halted while investigations continue.” The addresses linked to the attack were two Ethereum addresses, “0x7B5820…da1F9” and “0x4d3cc32…C7A47. Impact on Gravity Bridge TVL and more  Unfortunately, the attack also caused Gravity Bridge's TVL to drop from $11.82 million to $6.24 million in a day.  This coincided with a wave of attacks in 2026 that, according to DeFiLlama, has resulted in a loss of $759.84 million.  Final Summary A total of $5.4 million was lost as assets including USDT, USDC, ETH, and PAYG were drained.  While the attacker laundered part of the funds, roughly 2,102 ETH worth $4.23 million remains in their possession.