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$4.7M stolen in Secret Network bridge hack; Axelar core protocol unaffected

Market News
19 Jun 2026
Crypto Briefing
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Bearish
$4.7M stolen in Secret Network bridge hack; Axelar core protocol unaffected

Axelar reported a security breach involving the transfer of assets from its chain to Secret Network via the Cosmos IBC bridge, resulting in about $4.7 million in tokens stolen. The issue is isolated to the Secret Network's ICS-20 smart contract, with no impact on Axelar's core protocol or other connections. Axelar has disabled the affected connections, alerted exchanges and law enforcement, and is investigating further with plans to publish a detailed report.

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