Axelar–Secret Bridge Exploited for $4.67M Axelar confirmed around $4.67 million in tokens were drained from assets bridged over IBC to Secret Network. Where the Flaw Was: The issue was isolated to the Secret-side ICS-20 contract that handles assets from the Axelar chain. Axelar's core protocol, other IBC connections, and native Secret tokens are safe. Why It Is Hard to Trace: Secret is a privacy chain, so transactions and balances are encrypted. The exploit transaction is invisible on-chain, making tracking the attacker difficult. Axelar disabled the Secret and Secret-SNIP bridge connections and is now working with exchanges and law enforcement to track the funds. Bridges remain one of DeFi's biggest risk points. Be careful with cross-chain transfers and wait for official updates before moving funds.