Secret Network exploit drains $4.67 million in Axelar-bridged tokens

About $4.67 million in tokens was drained from Secret Network after an attacker exploited an ICS-20-based smart contract used for cross-chain transfers, according to Axelar’s June 19 statement. The incident highlighted another weakness in bridge infrastructure linking Cosmos-based blockchains. Axelar said the issue was confined to the Secret-side ICS-20 smart contract and did not impact its core protocol or other connections.