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Axelar Network Says Bridge Hack Caused $4.67 Million Loss

En.Bloomingbit • June 20, 2026

In a post on X on June 19, the project said it had disabled its connection to Secret Network following the security incident.

Its Core Protocol was not affected and continues to operate normally.

Axelar said it is investigating the cause of the incident and the extent of the damage, while taking additional security measures.

Axelar provides cross-chain infrastructure that connects assets and data across multiple blockchains.

Security breaches targeting bridge protocols have repeatedly hit the crypto industry in recent years, bringing renewed focus to the security of cross-chain infrastructure.

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This article is one source in a clustered incident — the cluster page carries the summary, timeline and every other outlet covering it.

Axelar Bridge Exploit Results in $4.67 Million Loss Linked to Secret Network On June 19, 2026, Axelar Network reported a security incident where approximately $4.67 million worth of tokens were drained from the Secret Network due to an exploit in a modified ICS-20 smart contract. The attacker exploited vulnerabilities in the contract that failed to verify token transfers from an authentic Axelar-controlled IBC channel. This incident specifically affected bridged assets from Axelar to Secret Network, including wrapped USDT, USDC, DAI, WETH, WBTC, WBNB, and wstETH. Axelar's core protocol and other IBC connections remained unaffected. In response, Axelar disabled the affected bridge connections and initiated an investigation while contacting law enforcement and exchanges. The vulnerability was traced back to a lack of critical security checks in the contract, which allowed for the creation of unbacked wrapped tokens. A full post-mortem is expected to provide further insights into the incident. 16 sources 66

Extracted Entities

Axelar Network Says Bridge Hack Caused $4.67 Million Loss

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Extracted Entities

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Companies (1)

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