{"investigation":{"slug":"secret-network-axelar-bridge-exploit-june-2026","entity_name":"Secret Network / Axelar Bridge Exploit June 2026","trust_score":0,"severity_base":null,"score_modifier":-10,"confidence":0.87,"status":"published","content_type":"investigation","summary":"On June 10, 2026, an attacker exploited a missing channel-origin validation in a customized CW20-ICS20 smart contract on Secret Network to mint unbacked Axelar-wrapped saTokens and redeem them for approximately $4.67 million in real escrowed assets. The exploit went undetected for seven days, in part because Secret Network's privacy-by-default design encrypts balances, until a failed cross-chain transfer on June 17 exposed the shortfall; Axelar then disabled the Secret and Secret-SNIP IBC connections. The flaw is reported to date to the contract's 2023 deployment and was carried forward unaudited through a March 5, 2026 migration; the stolen funds were laundered via Osmosis, Ethereum and CoW Protocol to KuCoin, ChangeNow and HitBTC, and no compensation had been announced.","sections":[{"content":"On June 10, 2026, an attacker drained approximately $4.67 million in bridged assets from the Axelar-to-Secret Network IBC bridge (some outlets round the figure to $4.7 million). The attacker exploited an infinite-mint vulnerability in a customized CW20-ICS20 smart contract deployed on Secret Network's secret-4 chain, which managed so-called 'saTokens': privacy-preserving, SNIP-20 wrapped versions of Axelar-bridged assets. Seven asset classes were affected: saUSDT, saUSDC, saDAI, saWETH, saWBTC, saWBNB and sawstETH. The primary victim contract identified by investigators is secret1yxjmepvyl2c25vnt53cr2dpn8amknwausxee83, one of the verified gateways for channels 60 and 61 on the axelar-dojo-1 connection; related contracts secret1nvytjz7t5wakf0ra5y47dfenatwxpggmkwc5ru and secret1e2lwttdwnpxpg6hudplfl54pdx4404nm54mj8r were also identified. Axelar's emergency committee disabled the Secret and Secret-SNIP IBC connections upon discovery, and Axelar stated that its core protocol and all other IBC connections were unaffected.","heading":"Exploit Overview","sources":[{"url":"https://www.theblock.co/post/405459/secret-networks-axelar-bridge-drained-for-4-67-million-in-infinite-mint-exploit-that-went-unnoticed-for-seven-days","name":"Secret Network's Axelar bridge drained for $4.67 million in infinite-mint exploit that went unnoticed for seven days","type":"news_article","credibility":2},{"url":"https://www.cryptotimes.io/2026/06/19/4-67m-exploit-hits-axelar-secret-network-bridge-links-disabled/","name":"$4.67M Exploit Hits Axelar-Secret Network Bridge, Links Disabled","type":"news_article","credibility":2},{"url":"https://www.tradingview.com/news/cointelegraph:e52a8055f094b:0-secret-network-bridge-exploited-for-4-7m-with-infinite-mint-bug/","name":"Secret Network Bridge Exploited for $4.7M with Infinite Mint Bug (CoinTelegraph via TradingView)","type":"news_article","credibility":2},{"url":"https://www.banklesstimes.com/articles/2026/06/20/secret-network-bridge-exploit-drains-4-67m-from-axelar-link/","name":"Secret Network Bridge Exploit Drains $4.67M From Axelar Link","type":"news_article","credibility":2},{"url":"https://cryptoadventure.com/axelar-cuts-secret-network-links-after-4-67m-ibc-asset-drain/","name":"Axelar Cuts Secret Network Links After $4.67M IBC Asset Drain","type":"news_article","credibility":2}],"severity":"critical"},{"content":"The vulnerable contract (Code ID 2446) was a fork of the standard ICS-20 token transfer specification, customized to issue privacy-preserving saTokens on Secret Network. The contract failed to verify which IBC channel an incoming deposit packet arrived through; it matched only the token denomination name against an approved list, not the source channel or connection path. According to a postmortem published by blockchain security firm Common Prefix, developers had commented out two essential security checks in the contract's do_ibc_packet_receive function: (1) parse_voucher_denom(), which would have validated denomination channel traces against actual packet sources, ensuring tokens carried the /port/channel prefix identifying the legitimate Axelar channel; and (2) reduce_channel_balance(), which would have capped token releases to the amount genuinely escrowed per channel. Without these checks, the contract accepted bare token denominations from any IBC channel as long as the token name appeared in its allow-list, making an attacker-controlled channel indistinguishable from Axelar's legitimate one.","heading":"Technical Root Cause","sources":[{"url":"https://www.cryptotimes.io/2026/06/20/how-a-custom-code-flaw-cost-secret-network-4-67-million/","name":"How a Custom Code Flaw Cost Secret Network $4.67 Million","type":"news_article","credibility":2},{"url":"https://yellow.com/news/secret-network-bridge-missing-check","name":"Secret Network's $4.67M Bridge Heist Started With One Missing Check","type":"news_article","credibility":2},{"url":"https://www.cryptowisser.com/news/secret-network-bridge-exploit-drains-4-67m-usd-after-vulnerability-goes-undetected-for-a-week","name":"Secret Network Bridge Exploit Drains $4.67 Million After Vulnerability Goes Undetected for a Week","type":"news_article","credibility":2},{"url":"https://www.cryptotimes.io/2026/06/19/4-67m-exploit-hits-axelar-secret-network-bridge-links-disabled/","name":"$4.67M Exploit Hits Axelar-Secret Network Bridge, Links Disabled","type":"news_article","credibility":2},{"url":"https://www.banklesstimes.com/articles/2026/06/20/secret-network-bridge-exploit-drains-4-67m-from-axelar-link/","name":"Secret Network Bridge Exploit Drains $4.67M From Axelar Link","type":"news_article","credibility":2}],"severity":"critical"},{"content":"The attacker executed the exploit in four documented steps. First, they created a single-validator Cosmos SDK chain under their control. Second, they opened a new IBC channel directly to the vulnerable Secret Network bridge contract. Third, they self-relayed forged ICS-20 transfer packets carrying bare token denominations matching the contract's allow-list (e.g., 'uusdc', 'uusdt') without the required /port/channel prefix. Fourth, because the contract accepted these forged packets as valid deposits, it minted genuine, redeemable saTokens against no real collateral. The attacker then redeemed the minted saTokens over the legitimate Axelar IBC channel, withdrawing real assets from the Axelar escrow account. Investigators later traced the shortfall to seven withdrawals executed on June 10, 2026.","heading":"Attack Methodology","sources":[{"url":"https://www.cryptotimes.io/2026/06/20/how-a-custom-code-flaw-cost-secret-network-4-67-million/","name":"How a Custom Code Flaw Cost Secret Network $4.67 Million","type":"news_article","credibility":2},{"url":"https://www.banklesstimes.com/articles/2026/06/20/secret-network-bridge-exploit-drains-4-67m-from-axelar-link/","name":"Secret Network Bridge Exploit Drains $4.67M From Axelar Link","type":"news_article","credibility":2},{"url":"https://www.cryptowisser.com/news/secret-network-bridge-exploit-drains-4-67m-usd-after-vulnerability-goes-undetected-for-a-week","name":"Secret Network Bridge Exploit Drains $4.67 Million After Vulnerability Goes Undetected for a Week","type":"news_article","credibility":2},{"url":"https://www.cryptotimes.io/2026/06/19/4-67m-exploit-hits-axelar-secret-network-bridge-links-disabled/","name":"$4.67M Exploit Hits Axelar-Secret Network Bridge, Links Disabled","type":"news_article","credibility":2},{"url":"https://cryptoadventure.com/axelar-cuts-secret-network-links-after-4-67m-ibc-asset-drain/","name":"Axelar Cuts Secret Network Links After $4.67M IBC Asset Drain","type":"news_article","credibility":2}],"severity":"critical"},{"content":"The vulnerable CW20-ICS20 contract was originally deployed on Secret Network in early 2023. According to the Common Prefix postmortem, the missing source-validation logic was present from initial deployment. On March 5, 2026, the contract underwent a migration to Code ID 2446, reportedly to add new functionality; the migration preserved the vulnerable code unchanged. According to reporting from CryptoTimes and yellow.com, no external security audit was requested either at initial deployment or at the time of the March 2026 migration. Axelar stated publicly that 'the altered version changed the contract's trust assumptions but did not undergo a new security audit' and that the exploited contract 'was not developed, deployed, or maintained by Axelar.' The absence of audit coverage across a multi-year lifespan and a significant migration event is described as a primary contributing factor. Sources differ on how well established the 2023 origin is: the CryptoTimes and yellow.com coverage attributes it to the Common Prefix postmortem, while other coverage described the claim that the gap had existed since 2023 as an allegation not yet corroborated by a public audit report or official post-mortem.","heading":"Contract Migration History and Audit Absence","sources":[{"url":"https://www.cryptotimes.io/2026/06/20/how-a-custom-code-flaw-cost-secret-network-4-67-million/","name":"How a Custom Code Flaw Cost Secret Network $4.67 Million","type":"news_article","credibility":2},{"url":"https://www.kucoin.com/news/flash/axelar-clarifies-4-67m-secret-network-bridge-exploit-origin","name":"Axelar Clarifies $4.67M Secret Network Bridge Exploit Origin","type":"news_article","credibility":2},{"url":"https://yellow.com/news/secret-network-bridge-missing-check","name":"Secret Network's $4.67M Bridge Heist Started With One Missing Check","type":"news_article","credibility":2},{"url":"https://www.cryptotimes.io/2026/06/19/4-67m-exploit-hits-axelar-secret-network-bridge-links-disabled/","name":"$4.67M Exploit Hits Axelar-Secret Network Bridge, Links Disabled","type":"news_article","credibility":2}],"severity":"high"},{"content":"The exploit remained undetected for seven days, from June 10 to June 17, 2026. The detection failure is attributed to Secret Network's privacy-by-default architecture: the network encrypts account balances and transaction data at the protocol level via confidential computing, so the anomalous minting and the missing collateral in the Axelar escrow account were not visible through standard on-chain monitoring tools. The shortfall was revealed on June 17 when a routine cross-chain transfer failed because the escrow account no longer held sufficient tokens; investigators then traced the error back to seven withdrawals executed on June 10. Multiple outlets noted that the same privacy feature that defines Secret Network's value proposition functioned as a detection blind spot in this incident, preventing the kind of real-time balance anomaly detection that would flag a drain on a transparent chain. Community commentary was mixed, with some members arguing the incident challenged Secret's core value proposition while others maintained that privacy-preserving computation remains strategically defensible.","heading":"Seven-Day Detection Failure and the Privacy Paradox","sources":[{"url":"https://www.cryptotimes.io/2026/06/19/4-67m-exploit-hits-axelar-secret-network-bridge-links-disabled/","name":"$4.67M Exploit Hits Axelar-Secret Network Bridge, Links Disabled","type":"news_article","credibility":2},{"url":"https://www.cryptowisser.com/news/secret-network-bridge-exploit-drains-4-67m-usd-after-vulnerability-goes-undetected-for-a-week","name":"Secret Network Bridge Exploit Drains $4.67 Million After Vulnerability Goes Undetected for a Week","type":"news_article","credibility":2},{"url":"https://www.tradingview.com/news/cointelegraph:e52a8055f094b:0-secret-network-bridge-exploited-for-4-7m-with-infinite-mint-bug/","name":"Secret Network Bridge Exploited for $4.7M with Infinite Mint Bug (CoinTelegraph via TradingView)","type":"news_article","credibility":2},{"url":"https://crypto.news/axelar-shuts-down-secret-network-bridge-routes-after-4-7m-exploit/","name":"Axelar shuts down Secret Network bridge routes after $4.7M exploit","type":"news_article","credibility":2}],"severity":"high"},{"content":"After draining the funds, the attacker routed proceeds through Osmosis, a Cosmos-ecosystem decentralized exchange, and then bridged them to Ethereum, where most assets were swapped for ETH via CoW Protocol. The funds were split across approximately 30 wallets and deposited at the exchanges KuCoin, ChangeNow and HitBTC. Approximately $770,000 remained in the attacker's Axelar wallet at the time of initial reporting, with roughly $672,000 still untouched at the time of subsequent coverage; Secret Network petitioned Axelar to freeze those assets. Axelar said it contacted relevant exchanges and law enforcement agencies to support asset tracing. No public confirmation of frozen or recovered funds had been reported as of June 20, 2026.","heading":"Fund Movement and Laundering","sources":[{"url":"https://www.cryptotimes.io/2026/06/20/how-a-custom-code-flaw-cost-secret-network-4-67-million/","name":"How a Custom Code Flaw Cost Secret Network $4.67 Million","type":"news_article","credibility":2},{"url":"https://www.banklesstimes.com/articles/2026/06/20/secret-network-bridge-exploit-drains-4-67m-from-axelar-link/","name":"Secret Network Bridge Exploit Drains $4.67M From Axelar Link","type":"news_article","credibility":2},{"url":"https://www.cryptowisser.com/news/secret-network-bridge-exploit-drains-4-67m-usd-after-vulnerability-goes-undetected-for-a-week","name":"Secret Network Bridge Exploit Drains $4.67 Million After Vulnerability Goes Undetected for a Week","type":"news_article","credibility":2},{"url":"https://www.cryptotimes.io/2026/06/19/4-67m-exploit-hits-axelar-secret-network-bridge-links-disabled/","name":"$4.67M Exploit Hits Axelar-Secret Network Bridge, Links Disabled","type":"news_article","credibility":2}],"severity":"high"},{"content":"Axelar's emergency committee disabled the Secret and Secret-SNIP IBC connections (channels 60/61 connecting to axelar-dojo-1). Reports differ on the date: BanklessTimes and CryptoTimes coverage places it on June 17, 2026, within hours of discovery, while other accounts date the disabling, together with the public disclosures, to June 19, 2026. Squid, a cross-chain router built on Axelar, also removed Secret Network from its interface. Axelar stated: 'This incident is isolated to assets on Secret that were bridged over IBC from Axelar. No other Axelar integrations or IBC connections appear to be impacted.' It further said that 'neither Axelar nor IBC was compromised', that its core validator network and broader interoperability stack were unaffected, and that 'the exploited token smart contract was not developed, deployed, or maintained by Axelar.' A detailed post-mortem was stated to be in preparation as of June 19, 2026, with no publication timeline given, and no restoration timeline for the Secret Network connection had been provided.","heading":"Incident Response and Responsibility Dispute","sources":[{"url":"https://www.cryptotimes.io/2026/06/19/4-67m-exploit-hits-axelar-secret-network-bridge-links-disabled/","name":"$4.67M Exploit Hits Axelar-Secret Network Bridge, Links Disabled","type":"news_article","credibility":2},{"url":"https://www.kucoin.com/news/flash/axelar-clarifies-4-67m-secret-network-bridge-exploit-origin","name":"Axelar Clarifies $4.67M Secret Network Bridge Exploit Origin","type":"news_article","credibility":2},{"url":"https://www.tradingview.com/news/cointelegraph:e52a8055f094b:0-secret-network-bridge-exploited-for-4-7m-with-infinite-mint-bug/","name":"Secret Network Bridge Exploited for $4.7M with Infinite Mint Bug (CoinTelegraph via TradingView)","type":"news_article","credibility":2},{"url":"https://themerkle.com/axelar-confirms-4-67m-exploit-on-secret-network-bridge-core-protocol-remains-unaffected/","name":"Axelar Confirms $4.67M Exploit on Secret Network Bridge, Core Protocol Remains Unaffected","type":"news_article","credibility":2},{"url":"https://ambcrypto.com/axelar-disables-secret-connection-after-4-67m-exploit-hits-ibc-linked-assets/","name":"Axelar disables Secret connection after $4.67M exploit hits IBC-linked assets","type":"news_article","credibility":2},{"url":"https://crypto.news/axelar-shuts-down-secret-network-bridge-routes-after-4-7m-exploit/","name":"Axelar shuts down Secret Network bridge routes after $4.7M exploit","type":"news_article","credibility":2}],"severity":"high"},{"content":"Users who held saUSDT, saUSDC, saDAI, saWETH, saWBTC, saWBNB or sawstETH on Secret Network at the time of the exploit were directly exposed to losses, as the backing collateral for those tokens was drained from Axelar's escrow. Secret Network advised holders of affected saXXX tokens that 'their backing was affected, and your funds may be lost.' No reimbursement mechanism, compensation fund or recovery had been announced as of late June 2026. Axelar stated that no other Secret Network tokens and no other Axelar-integrated chains were affected. The native SCRT token was not technically affected by the exploit; it declined approximately 0.9% on the day of public disclosure and approximately 28.5% over the month of June 2026. AXL, Axelar's native token, rose approximately 3.85% in the days following the announcement, which was read as market participants viewing the incident as bounded to the Secret-side contract; it was trading at approximately $0.045 at the time of coverage, down approximately 98% from its 2024 peak.","heading":"User Fund Impact and Market Reaction","sources":[{"url":"https://www.cryptowisser.com/news/secret-network-bridge-exploit-drains-4-67m-usd-after-vulnerability-goes-undetected-for-a-week","name":"Secret Network Bridge Exploit Drains $4.67 Million After Vulnerability Goes Undetected for a Week","type":"news_article","credibility":2},{"url":"https://www.tradingview.com/news/cointelegraph:e52a8055f094b:0-secret-network-bridge-exploited-for-4-7m-with-infinite-mint-bug/","name":"Secret Network Bridge Exploited for $4.7M with Infinite Mint Bug (CoinTelegraph via TradingView)","type":"news_article","credibility":2},{"url":"https://www.banklesstimes.com/articles/2026/06/20/secret-network-bridge-exploit-drains-4-67m-from-axelar-link/","name":"Secret Network Bridge Exploit Drains $4.67M From Axelar Link","type":"news_article","credibility":2},{"url":"https://cryip.co/axelar-disables-secret-network-ibc-bridge-after-4-67m-exploit/","name":"Axelar Network Disables Secret Network IBC Bridge Following $4.67 Million Exploit","type":"news_article","credibility":2},{"url":"https://themerkle.com/axelar-confirms-4-67m-exploit-on-secret-network-bridge-core-protocol-remains-unaffected/","name":"Axelar Confirms $4.67M Exploit on Secret Network Bridge, Core Protocol Remains Unaffected","type":"news_article","credibility":2},{"url":"https://coinpaper.com/32108/axl-price-climbs-5-despite-47m-exploit-on-axelar-linked-bridge","name":"AXL Price Climbs 5% Despite $4.7M Exploit on Axelar-Linked Bridge","type":"news_article","credibility":2}],"severity":"high"},{"content":"Public security advisories from the Cosmos ecosystem provide context for the class of vulnerability exploited. In 2024, the Cosmos ibc-go team published advisory ASA-2024-007 detailing a potential reentrancy vulnerability in IBC hooks affecting chains running ibc-go versions prior to v4.6.0 / v5.4.0 / v6.3.0 / v7.4.0 / v8.2.0 that are CosmWasm-enabled and use ibc-hooks middleware wrapping ICS-20. Secret Network's public changelog shows that v1.17.0 (March 7, 2025) addressed security advisories ASA-2025-001, ASA-2025-002 and ASA-2025-004, and that v1.21.6 (August 11, 2025) fixed IBC hooks for ICS contracts. These advisories concern the chain software, not the custom saToken contract that was exploited.","heading":"Prior IBC Security Advisories","sources":[{"url":"https://github.com/cosmos/ibc-go/security/advisories/GHSA-j496-crgh-34mx","name":"IBC-Hooks Reentrancy Advisory ASA-2024-007 - Cosmos ibc-go","type":"other","credibility":1},{"url":"https://docs.scrt.network/secret-network-documentation/infrastructure/versioning-and-changelog/secret-network-v1.11","name":"Secret Network v1.11 Versioning & Changelog","type":"official","credibility":1}],"severity":"medium"},{"content":"The incident occurred against a backdrop of elevated cross-chain bridge losses in 2026. BanklessTimes cited cumulative bridge exploit losses of over $340 million in 2026 at the time of the incident, with comparable events including the Resolv bridge ($25 million), Verus ($11 million) and IoTeX ($4 million). Other reporting put total DeFi losses above $800 million by mid-June 2026, with April 2026 alone accounting for over $600 million across major bridge exploits; the two sets of figures are not directly reconcilable. The exploit was among a cluster of June 2026 security failures that also included the Syscoin Bridge ($8 million), two separate exploits at Aztec Network within a single week, and a breach at Humanity Protocol on June 8. Reports differ on the Humanity Protocol amount: $32 million according to The Block and Cointelegraph coverage, which ranked the Secret Network incident as the month's third-largest theft, and $36 million according to CCN and Coinpaper. The incident illustrates a recurring vulnerability class in ICS-20 bridge implementations: customized forks that alter trust assumptions without corresponding audit coverage, on IBC-connected chains where channel-origin validation is absent or insufficient.","heading":"Broader Bridge and DeFi Security Context","sources":[{"url":"https://www.banklesstimes.com/articles/2026/06/20/secret-network-bridge-exploit-drains-4-67m-from-axelar-link/","name":"Secret Network Bridge Exploit Drains $4.67M From Axelar Link","type":"news_article","credibility":2},{"url":"https://www.tradingview.com/news/cointelegraph:e52a8055f094b:0-secret-network-bridge-exploited-for-4-7m-with-infinite-mint-bug/","name":"Secret Network Bridge Exploited for $4.7M with Infinite Mint Bug (CoinTelegraph via TradingView)","type":"news_article","credibility":2},{"url":"https://www.theblock.co/post/405459/secret-networks-axelar-bridge-drained-for-4-67-million-in-infinite-mint-exploit-that-went-unnoticed-for-seven-days","name":"Secret Network's Axelar bridge drained for $4.67 million in infinite-mint exploit that went unnoticed for seven days","type":"news_article","credibility":2},{"url":"https://www.ccn.com/education/crypto/defi-hacks-exploits-causes-crypto-stolen-2026/","name":"Biggest DeFi Hacks and Exploits of 2026: $1 Billion+ Lost and Counting","type":"news_article","credibility":2},{"url":"https://coinpaper.com/32108/axl-price-climbs-5-despite-47m-exploit-on-axelar-linked-bridge","name":"AXL Price Climbs 5% Despite $4.7M Exploit on Axelar-Linked Bridge","type":"news_article","credibility":2}],"severity":"medium"}],"timeline":[{"date":"2023-03","event":"Vulnerable CW20-ICS20 bridge contract originally deployed on Secret Network without the parse_voucher_denom() and reduce_channel_balance() validation checks. No external security audit was requested.","source":"Common Prefix postmortem (via CryptoTimes and yellow.com)","source_url":"https://www.cryptotimes.io/2026/06/20/how-a-custom-code-flaw-cost-secret-network-4-67-million/"},{"date":"2026-03","event":"On March 5, 2026, the contract is migrated to Code ID 2446 to add new functionality. The migration preserves the missing source-validation checks without remediation and without triggering a new security audit.","source":"CryptoTimes / Common Prefix postmortem","source_url":"https://www.cryptotimes.io/2026/06/20/how-a-custom-code-flaw-cost-secret-network-4-67-million/"},{"date":"2026-06","event":"On June 10, 2026, the attacker creates a single-validator Cosmos SDK chain, opens an unauthorized IBC channel to the vulnerable bridge contract, self-relays forged packets, and mints approximately $4.67 million in unbacked saTokens across seven asset classes before redeeming them for real escrowed assets. Seven anomalous withdrawals are later traced to this date.","source":"CryptoTimes, The Block, CryptoWisser, BanklessTimes","source_url":"https://www.cryptotimes.io/2026/06/19/4-67m-exploit-hits-axelar-secret-network-bridge-links-disabled/"},{"date":"2026-06","event":"Following the exploit, stolen assets are routed through Osmosis, bridged to Ethereum, swapped for ETH via CoW Protocol, split across approximately 30 wallets, and deposited at KuCoin, ChangeNow and HitBTC.","source":"CryptoTimes","source_url":"https://www.cryptotimes.io/2026/06/19/4-67m-exploit-hits-axelar-secret-network-bridge-links-disabled/"},{"date":"2026-06","event":"On June 17, 2026, a routine cross-chain transfer fails due to insufficient escrow reserves, exposing the shortfall; investigators trace the deficit to the June 10 withdrawals. Axelar's emergency committee disables the Secret and Secret-SNIP IBC connections (other accounts date the disabling to June 19).","source":"BanklessTimes / CryptoTimes / CryptoWisser","source_url":"https://www.banklesstimes.com/articles/2026/06/20/secret-network-bridge-exploit-drains-4-67m-from-axelar-link/"},{"date":"2026-06","event":"On June 19, 2026, Axelar publicly discloses the incident, confirming approximately $4.67 million in losses, the isolation of the breach to the Secret-side ICS-20 contract, and outreach to exchanges and law enforcement. Squid router removes Secret Network from its interface. Secret Network and multiple outlets report the incident.","source":"Axelar via crypto.news / CryptoTimes / KuCoin / AMBCrypto / The Merkle","source_url":"https://crypto.news/axelar-shuts-down-secret-network-bridge-routes-after-4-7m-exploit/"},{"date":"2026-06","event":"On June 20, 2026, CryptoTimes publishes a technical analysis detailing the two missing validation functions, the March 2026 migration history and the attacker's methodology; yellow.com and BanklessTimes publish further analysis attributing the postmortem to Common Prefix. No recovery, compensation mechanism or restoration timeline is announced.","source":"CryptoTimes, yellow.com, BanklessTimes","source_url":"https://www.cryptotimes.io/2026/06/20/how-a-custom-code-flaw-cost-secret-network-4-67-million/"},{"date":"2026-06","event":"Around June 22, 2026, Cointelegraph and other outlets publish further coverage; SCRT is reported down approximately 28.5% for the month. Axelar clarifies that its core protocol was not breached and that the exploited contract was not its responsibility.","source":"CoinTelegraph via TradingView, KuCoin, CryptoWisser","source_url":"https://www.tradingview.com/news/cointelegraph:e52a8055f094b:0-secret-network-bridge-exploited-for-4-7m-with-infinite-mint-bug/"}],"sources_used":[{"url":"https://www.theblock.co/post/405459/secret-networks-axelar-bridge-drained-for-4-67-million-in-infinite-mint-exploit-that-went-unnoticed-for-seven-days","name":"Secret Network's Axelar bridge drained for $4.67 million in infinite-mint exploit that went unnoticed for seven 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