$4.7M Lost in Secret Network Bridge Exploit Due to Bug

WHO:

Cointelegraph - The hacker involved in the exploit of the Secret Network.

Bitcoinist - The Secret Network organization affected by the exploit.

WHAT:

Bitcoinist - Secret Network's Axelar bridge connection was suspended after the exploit drained about $4.67 million in wrapped assets.

Cointelegraph - The exploit resulted in a loss of $4.7 million.

Bitcoinist - The loss due to the exploit was reported as $4.67 million.

Bitcoinist - The exploit was caused by an "infinite-mint" flaw on the Axelar bridge.

Cointelegraph - The exploit went undetected for a week.

WHERE:

Cointelegraph - The exploit occurred on the Secret Network's Axelar bridge, which is associated with Ethereum.

WHEN:

Bitcoinist - The vulnerability was patched after the exploit was discovered.

WHY:

Bitcoinist - The exploit was due to an infinite-mint flaw in the system.

HOW:

Cointelegraph - The hacker moved the stolen funds into Ethereum and then to exchanges.

(UPDATED June 22, 2026 23:24 UTC)

The Axelar bridge connection for Secret Network has been suspended following a significant exploit that drained approximately $4.67 million in wrapped assets. This incident was reported at 14:58 UTC by Bitcoinist. The suspension aims to prevent further losses while the situation is being addressed.

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(UPDATED June 22, 2026 14:58 UTC)

A hacker exploited a vulnerability in the Secret Network's Axelar bridge, resulting in a loss of approximately $4.7 million. The exploit, caused by an "infinite-mint" flaw, went undetected for a week before the vulnerability was patched. Following the theft, the hacker transferred the stolen funds into Ethereum and subsequently moved them to various exchanges.