Axelar Network Hacked, Approximately $4.67 Million in Tokens Stolen

Odaily reports that Axelar Network has identified an incident affecting assets bridged from the Axelar chain 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 a component of the Cosmos IBC connection between Secret and Axelar, used to bridge assets from Axelar to Secret. The Axelar Emergency Committee immediately disabled the Secret and Secret-SNIP connections after discovering the incident. The team is contacting relevant exchanges and law enforcement agencies.