BlockBeats News, June 20th, Axelar Network announced that a incident has been discovered affecting assets transferred from the Axelar chain to the Secret Network via IBC, with approximately $4.67 million in tokens stolen.

Axelar stated that based on current information, the issue is limited to the Secret side's ICS-20 smart contract in the Cosmos IBC connection between Secret and Axelar, which is used for bridging assets from Axelar to Secret. Following the incident, Axelar's emergency committee promptly disabled the Secret and Secret-SNIP connections and is reaching out to relevant exchanges and law enforcement agencies.

Axelar mentioned that this incident is confined to assets bridged from Axelar to Secret via IBC, and other IBC connections or Secret tokens do not appear to be affected, other Axelar integrations are also unaffected, and the core Axelar protocol remains unharmed. The team is preparing a detailed post-incident analysis report.