Secret Network Loses $4.67M in Infinite Mint Exploit

Secret Network Loses $4.67M in Infinite Mint Exploit

A smart contract bug on Secret Network let an attacker mint unbacked tokens and drain $4.67 million in Axelar-wrapped assets before moving funds to Ethereum.

Secret Network's Axelar Bridge Drained $4.67M via Infinite-Mint Flaw

Secret Network's cross-chain bridge to Axelar has been suspended after an attacker exploited a years-old minting flaw to drain $4.67 million in wrapped tokens over seven undetected days. Both teams disclosed the incident on June 19, confirming approximately $4.67 million in assets were taken from... Read the full story at The Defiant

Secret Network Bridge Exploited for $4.7 Million Through Infinite Mint Bug

Secret Network has suffered a $4.67 million exploit after attackers abused an infinite mint vulnerability in a smart contract linked to Axelar-wrapped assets. The flaw allowed the creation of unbacked tokens, which were later redeemed for genuine assets held in escrow. The incident went undetected for nearly a week before being discovered following a failed cross-chain transaction, making it one of the largest crypto exploits reported this month.

Secret Network Axelar Bridge Hack Results in $4.67M Loss via Infinite-Mint Exploit - The Cryptocurrency Post

Secret Network’s Axelar–related bridge flow was hit by an “infinite mint” exploit that reportedly allowed an attacker to create unbacked wrapped assets and drain about $4.67 million, according to a CryptoTimes report citing Axelar’s announcement and a Common Prefix technical write-up. Available reporting says the issue affected a modified cross-chain token contract on Secret Network rather than Axelar’s core network. Axelar said its network and …

Secret Network Hit With $4.67M Infinite Mint Exploit Losses

An attacker exploited an “infinite mint” vulnerability in a smart contract on Secret Network to create wrapped versions of Axelar-backed assets without the normal backing. According to Common Prefix, the resulting loss reached $4.67 million, with the incident first occurring on June 10 and later being detected on June 17 after irregularities surfaced during a failed cross-chain transfer. The exploit relied on a flaw in how inbound transfers were…

Secret Network Bridge Hit by $4.67M Exploit Via Infinite-Mint Flaw

Secret Network has confirmed a significant security incident involving its Axelar bridge, which was exploited to drain approximately $4.67 million. …