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$4.67M stolen in Axelar-Secret Network bridge exploit; Axelar disables connection to contain damage

Market News
19 Jun 2026
AMBCrypto
View Source
Bearish
pluang ai news

Axelar has disabled its connection to Secret Network after an exploit led to the theft of about $4.67 million in bridged assets. The issue is linked to a vulnerability in the Secret-side ICS-20 smart contract used in the Cosmos IBC protocol between the two networks. Axelar’s core infrastructure remains unaffected, and no other IBC connections appear compromised. The team is investigating the incident and has involved exchanges and law enforcement while preparing a detailed report.

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