Gravity Bridge Hacked: $5.4 Million in Crypto Assets Lost
- Security Breach Investigation: Gravity Bridge's cross-chain protocol is under investigation for a suspected security breach, with preliminary data indicating approximately $5.4 million in digital assets drained, highlighting ongoing security challenges in the decentralized finance sector.
- Asset Loss Details: Analysis reveals losses include $4.3 million in USDC, 274 Wrapped Ether (WETH), and $434,000 in USDT, with the attacker exploiting a compromised contract key to gain unauthorized access to liquidity pools, resulting in significant financial damage.
- Industry Implications: This incident underscores the security vulnerabilities of cross-chain bridges, as the increasing frequency of hacks raises the urgency for enhanced security audits and key management practices, potentially influencing future security standards in the industry.
- User Advisory: Until official findings are released, users of Gravity Bridge are advised to exercise caution and refrain from interacting with the protocol's smart contracts to mitigate potential financial losses.
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Technical Analysis for G
Technical Sentiment Analysis for Gravity (G). As of , Gravity (G) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for G stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, G is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Gravity (G) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.00211 | 0.00235 | 0.00255 | 0.00279 | 0.00299 | 0.00323 | 0.00343 |
| Fibonacci | 0.00235 | 0.00252 | 0.00262 | 0.00279 | 0.00296 | 0.00306 | 0.00323 |
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