cryptobriefing.com Secret Network Migrates to Arbitrum After $4.7M AI-Driven Hack
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- •Secret Network suffered a $4.7 million hack exploiting AI vulnerabilities.
- •The SCRT token will migrate from Cosmos to Arbitrum due to security risks.
- •A snapshot on September 1, 2026, will determine token conversion eligibility.
Secret Network announced a migration of its SCRT token from the Cosmos blockchain to Arbitrum due to a recent $4.7 million hack. The breach exploited vulnerabilities in outdated integration code using AI tools. SCRT Labs cited the increasing risk of AI-assisted attacks as a primary motivator for the migration. A snapshot on September 1, 2026, will determine eligibility for the token conversion, which will only include SCRT held in self-custodied wallets. The proposal also includes a reduction in the staking inflation rate from 9% to 5%. Following the snapshot, maintenance of the original Cosmos chain will cease, although third-party validators may keep it alive. Community governance approval is required for the migration to proceed.
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