Hupzy (Spot On Chain)|May 30, 2026 08:55
🚨 Gravity Bridge drained of ~$5.4M — hacker actively laundering via ChangeNow & Binance.
Breakdown: $4.3M in USDC, 274 ETH (~$553K), $434K USDT, and 14.164 PAYG ($64K). The attacker is currently holding ~2,102 ETH (~$4.23M) and has already begun moving funds through centralized mixers and exchanges.
Hupzy take: A $5.4M bridge exploit hits cross-chain liquidity and trust directly. The fact that the hacker is laundering through ChangeNow and Binance — rather than sitting on the funds — suggests they're trying to cash out quickly. The 2.1K ETH still held represents potential sell pressure if they decide to dump. Bridge hacks tend to trigger short-term panic in associated ecosystem tokens and can spill into broader DeFi sentiment.
Watch for: any on-chain movement of the remaining 2,102 ETH to exchanges would be an immediate red flag. If the attacker accelerates selling, expect localized ETH downside pressure.
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