Secret Network Bridge Hit by $4.67M Exploit Via Infinite-Mint Flaw
21 Jun 2026 · 14:50 UTC · Bitcoinist RSS Feed · Original source
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Summary
Secret Network lost $4.67M due to an infinite-mint exploit on its Axelar bridge, which went undetected for seven days. The vulnerability is now patched.
Why it matters
The $4.67M exploit raises concerns about the security of bridges in the DeFi space, which can lead to a broader fear of similar vulnerabilities. This incident may prompt traders to reassess the risk associated with using bridges and altcoins, especially those linked to the Secret Network. As the exploit has been patched, the immediate threat has been mitigated, but the damage to trust could linger, leading to sustained bearish sentiment for the affected assets.
Expected impact
The exploit on the Secret Network's Axelar bridge is likely to create a wave of negative sentiment in the market, particularly affecting altcoins associated with the Secret Network. While Bitcoin may see some impact, the focus will primarily be on the affected altcoin ecosystem. Traders may react with caution, leading to increased volatility in the short term.