Secret Network's Axelar Bridge Loses $4.67M to Infinite-Mint Exploit
An attacker exploited a years-old minting flaw in Secret Network's Axelar bridge to drain $4.67 million in wrapped tokens over seven days before the vulnerability was detected. The bridge has been suspended and the exploit has been patched.
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The Exploit Window
An attacker drained $4.67 million in wrapped assets from Secret Network's Axelar cross-chain bridge between June 10 and June 17, according to reporting from multiple sources. The vulnerability went undetected for the entire seven-day period, during which the attacker siphoned wrapped tokens across seven different Axelar-supported assets on the bridge.
The Flaw and Response
The exploit leveraged a years-old minting flaw in a CW20-ICS20 contract that allowed infinite token minting. Once the flaw was discovered, Secret Network suspended the Axelar bridge connection and patched the vulnerability. The team has not yet disclosed whether users who deposited funds during the exploit window will be compensated or how recovery efforts will proceed.
Implications for Cross-Chain Security
The incident highlights the risk of undetected vulnerabilities in bridge infrastructure, where a single flaw can remain dormant across contract versions for extended periods. Cross-chain protocols typically undergo multiple audit rounds, but this vulnerability persisted despite the contract's long deployment history.
Why It Matters
For Traders
Wrapped asset pairs on Secret Network and Axelar may face increased slippage and reduced liquidity until bridge confidence is restored and user deposits return.
For Investors
The exploit underscores execution risk in multi-year-old bridge code; projects should assume older smart contracts carry undetected flaws regardless of prior audits.
For Builders
Bridge teams need continuous re-audit cycles for production contracts, not one-time audits at launch; infinite-mint flaws are preventable with proper role-based minting caps.
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