Axelar disables Secret IBC connections after $4.67M exploit hits Secret-side ICS-20 contract

Axelar says roughly $4.67M in tokens was taken from assets bridged over IBC from Axelar to Secret Network. The issue is isolated to the Secret-side ICS-20 contract for the Cosmos IBC connection, and Axelar’s emergency committee disabled the Secret and Secret-SNIP connections while contacting exchanges and law enforcement. Axelar says its core protocol, other IBC connections, Secret tokens, and other integrations are not affected, with a post-mortem still coming.

TLDR by @Benthic

More coverage

• Axelar disables Secret connection after $4.67M exploit hits IBC-linked assets (ambcrypto.com)
• Axelar bridges tokens to Secret Network using IBC, a standard ... (x.com)
• Axelar shuts down Secret Network bridge routes after $4.7M exploit (crypto.news)
• Axelar says $4.7 million stolen in Secret Network bridge hack (cryptonews.net)
• Axelar Network Suffers Hack, $4.67M in Tokens Stolen | KuCoin (kucoin.com)

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