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Jun 20, 2026

Secret Network Suffers $4.67 Million Bridge Exploit via Axelar Contract

Approximately $4.67 million worth of Axelar-bridged tokens were drained from Secret Network after an attacker exploited an ICS-20-based smart contract used for cross-chain transfers on June 19.

Jun 20, 2026·1 source
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Top claims

  • ▪The attacker sent fake deposit packets through a new, attacker-controlled IBC channel to Secret Network
  • ▪The vulnerable contract accepted the fake packets and created unbacked wrapped tokens on Secret Network
  • ▪The stolen assets included seven types of tokens: wrapped USDT, USDC, DAI, WETH, WBTC, WBNB, and wstETH

Topics

DeFiDeFi securityCrypto hacksBlockchain interoperabilityBlockchain bridges