Axelar disables Secret Network bridge after $4.7M loss

The blockchain interoperability network Axelar disabled its bridge connections to the Secret Network on Friday, June 19, 2026, following a security incident that resulted in the loss of approximately $4.7 million in bridged assets. The company stated its core protocol remained unaffected.

According to Axelar's investigation, the exploit was isolated to a specific smart contract on the Secret Network's side of the connection. The vulnerability was found in the "Secretside ICS20" contract, which is part of the Cosmos Inter-Blockchain Communication (IBC) framework used to transfer assets from the Axelar chain to Secret Network. The company emphasized that no other IBC connections, native Secret Network assets, or other Axelar integrations appear to have been compromised.

In its immediate response, Axelar's emergency committee disabled the bridge routes connecting to Secret Network and SecretSNIP to prevent further losses. The team also reported contacting relevant cryptocurrency exchanges and law enforcement agencies. A full postmortem report detailing the causes and resolutions is expected to be released once the investigation is complete.

Secret Network is a privacy-focused...