Secret Network announced plans to migrate its SCRT token from the Cosmos ecosystem to Arbitrum, an Ethereum layer-2 solution, following a $4.7 million bridge hack that exposed security flaws. The move aims to address aging infrastructure and security risks, especially with AI accelerating code vulnerabilities. The migration, pending community approval, includes a snapshot on September 1, 2026, and will reduce SCRT's inflation from 9% to 5%. Cosmos has seen an 88% drop in value locked since 2021, while Arbitrum holds $17.4 billion, making it a more secure and active platform. SCRT's price dropped 24% after the announcement, reflecting investor concerns.
Secret Network berencana memindahkan token SCRT dari Cosmos ke Arbitrum. Langkah ini didorong oleh kekhawatiran keamanan, termasuk eksploitasi jembatan Axelar-Secret senilai $4,7 juta baru-baru ini, serta likuiditas yang lebih rendah dan kode yang le...
Secret Network is proposing to migrate its SCRT token from the Cosmos blockchain to Ethereum's Arbitrum Layer 2, citing security vulnerabilities in its aging Cosmos code that are increasingly exposed to AI-powered exploits. This move follows a $4.7 m...
