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Secret Network's Axelar Bridge Drained for $4.67M via Infinite-Mint Exploit, Undetected for Seven Days

GateNews
Security IncidentsExchange Risk
WAXL2.61%
ATOM0.05%
According to Common Prefix, an attacker drained $4.67 million from Secret Network's Axelar bridge on June 10 via an infinite-mint exploit in a custom token contract, with the theft remaining undetected for seven days. The attacker exploited a flaw in the modified CW20-ICS20 contract by opening an independent Cosmos chain, establishing a channel to the bridge, and minting Secret-wrapped tokens without proper verification of transfer sources. The drain affected seven tokens: saUSDT, saUSDC, saDAI, saWETH, saWBTC, saWBNB, and sawstETH. The vulnerability was discovered on June 17 when a cross-chain transfer failed, revealing insufficient collateral in the escrow account. Axelar's emergency committee has disabled the Secret connections, and approximately $770,000 of the stolen funds remained in the attacker's wallet at the time of disclosure.
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