Axelar Network (@axelar): We have identified an incident affecting assets bridged over IBC to Secret Network from the Axelar chain, with approximately $4.67M worth of tokens ta…
Estimated coin impact
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We have identified an incident affecting assets bridged over IBC to Secret Network from the Axelar chain, with approximately $4.67M worth of tokens taken. Based on current information, the issue is isolated to the Secret-side ICS-20 smart contract of the Cosmos IBC connection between Secret and Axelar, used for assets bridged from Axelar to Secret. Immediately upon becoming aware of the incident, the Axelar emegency committee has disabled the Secret and Secret-SNIP connections. We're reaching out to the relevant exchanges and law enforcement agencies. The incident is isolated to assets on Secret bridged over IBC from Axelar. No other IBC connections or Secret tokens appear impacted. No other Axelar integrations are affected. Axelar’s core protocol is not affected. We're preparing a detailed post-mortem.