PANews, June 20: Axelar Network stated on X that an incident has been identified affecting assets bridged from Axelar to Secret Network via IBC, with approximately $4.67 million in tokens stolen. Based on current information, the issue is limited to the ICS-20 smart contract on the Secret side, which is part of the Cosmos IBC connection between Secret and Axelar used to bridge assets from Axelar to Secret. Upon discovering the incident, the Axelar Emergency Committee immediately disabled the connections to Secret and Secret-SNIP. The team is contacting relevant exchanges and law enforcement agencies.
Axelar Network Suffers Hack, $4.67M in Tokens Stolen
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Summary
On June 20, 2026, Axelar Network confirmed a cryptocurrency hack in which $4.67 million in tokens were stolen. The breach affected assets bridged to Secret Network via IBC, with the vulnerability linked to the ICS-20 smart contract on the Secret side. Axelar’s emergency committee promptly disabled the Secret and Secret-SNIP connections. The team is collaborating with exchanges and law enforcement, and a network upgrade is being considered to remediate the vulnerability.
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