Gravity Bridge Loses $5.4 Million in Possible Key Compromise
- Loss Overview: Gravity Bridge suffered a theft of approximately $5.4 million early Saturday, with losses including $4.3 million in USDC, 274 wrapped ether (valued at about $553,000), $434,000 in USDT, and 14.16 PAXG (around $64,000), significantly impacting its operational security.
- Vulnerability Analysis: Security researcher Specter indicated that the unusual withdrawal patterns suggest a possible compromise of signing keys rather than a direct exploit of the smart contract code, which could lead to a larger trust crisis for Gravity Bridge.
- Operational Suspension: The Gravity team has halted bridge operations and requested validators and orchestrators to stop while investigations are underway, aiming to prevent further losses and restore user confidence.
- Funds Tracking Dynamics: A portion of the stolen assets has been laundered through platforms like ChangeNow and Binance, with approximately 2,100 ETH (valued at around $4.23 million) still held in the theft wallet, indicating that investigators are actively tracking the flow of funds for further action.
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Technical Analysis for ETH
Technical Sentiment Analysis for Ethereum (ETH). As of , Ethereum (ETH) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 8 technical signals, shows that 5 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for ETH 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, ETH 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 $-.
Ethereum (ETH) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 1506.223 | 1661.572 | 1831.283 | 1986.632 | 2156.343 | 2311.692 | 2481.403 |
| Fibonacci | 1661.572 | 1785.745 | 1862.459 | 1986.632 | 2110.805 | 2187.519 | 2311.692 |
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