Cosmos Gravity Bridge loses $5.4M in key compromise

The Cosmos-based Gravity Bridge has been drained of approximately $5.4 million in a suspected key compromise incident. Blockchain security researchers believe the attack targeted the bridge's signing keys rather than exploiting a vulnerability in the protocol's code. The attacker successfully moved USDC, ether, tether, and PAXG tokens, laundering some through ChangeNow and Binance. The bridge has been halted while an investigation into the unfortunate incident is underway, with the attacker still holding a significant portion of the stolen assets.