Secret Network's Axelar Bridge Exploited for $4.67 Million in Seven-Day Unnoticed Attack
Secret Network's Axelar Bridge Exploited for $4.67 Million in Seven-Day Unnoticed Attack
The Axelar bridge connected to Secret Network was drained of $4.67 million due to an infinite-mint exploit that remained undetected for seven days. Secret Network reports that a portion of the stolen funds, approximately $770,000, is still in the attacker's Axelar wallet. Despite this, Axelar reportedly declined Secret Network's request to freeze these assets, raising concerns about inter-network cooperation during security incidents.
Secret Network Suffers Major Bridge Exploit Unnoticed for Seven Days
A significant security breach has impacted the Axelar bridge associated with the Secret Network, leading to a loss of $4.67 million. The exploit, described as an 'infinite-mint' vulnerability, allowed attackers to drain funds over a period of seven days before it was discovered.
According to Secret Network, about $770,000 of the stolen cryptocurrency remains traceable within the attacker's Axelar wallet. However, a critical development in the aftermath of the hack is Axelar's alleged refusal to freeze the attacker's wallet, despite a direct request from Secret Network. This situation highlights potential challenges and differing policies among blockchain networks when responding to cross-chain exploits and attempting to recover stolen funds.