Back Kucoin

Axelar Network Suffers Hack, $4.67M in Tokens Stolen

Kucoin • June 20, 2026

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.

The full story

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 Suffers Hack, $4.67M in Tokens Stolen

The full story

Extracted Entities

Attack Types (1)

Companies (1)

Platforms (1)