⚠️ALERT: AXELAR PRIVATE BRIDGE EXPLOITED FOR $4.67 MILLION
Axelar disclosed a $4.67 MILLION exploit involving assets bridged to Secret Network after an attacker exploited a flaw in a Secret-side smart contract to mint unbacked tokens and redeem them for real assets.
The attacker drained the funds in minutes, while the exploit remained hidden for 9 days due to Secret Network's encrypted transaction architecture.
Axelar has since disabled the affected bridge connections while the incident is investigated.