- An attacker exploited a critical infinite-mint flaw in Secret Network's Axelar bridge contract, draining $4.67 million in wrapped stablecoins and ETH over seven days.
- The vulnerability existed in a modified CW20-ICS20 smart contract, with validation checks commented out, allowing the minting of unbacked tokens.
- The incident has led to a dispute between Secret Network and Axelar over contract responsibility, with both teams engaging with exchanges and law enforcement.
Topics: Blockchain usage, Risk default, Infrastructure providers, Layer 2 scaling, Smart contract vulnerabilities, Tokenization platforms
Tags: #secretnetwork #axelarbridge #infinitemintflaw #smartcontractvulnerability #wrappedstablecoins #crosschainbridge #ibcchannel #commonprefix #scr #axl
No comments:
Post a Comment