Axelar discloses $4.67M exploit on Secret Network bridge

Key facts

• Axelar reported a $4.67 million exploit.
• The exploit targeted assets bridged to Secret Network.
• The vulnerability was found in a Secret-side smart contract.
• Connections between Axelar and Secret Network have been disabled.

Axelar has disclosed an exploit resulting in a loss of $4.67 million, which targeted assets bridged to the Secret Network. The security breach has been traced to a vulnerability within a smart contract on the Secret Network's side. In response to the exploit, both connections between Axelar and Secret Network have been disabled to prevent further losses.