Secret Network Axelar Bridge Suspended After $4.67M Infinite-Mint Exploit

Secret Network's cross-chain bridge to Axelar has been suspended after an attacker exploited a years-old minting flaw in a CW20-ICS20 contract to drain $4.67 million in wrapped tokens over seven undetected days. The exploit ran from June 10 to June 17, drained seven Axelar-wrapped assets, and has

Taiko warns users to withdraw from bridges after a verification compromise and reported ERC20 Vault losses above $1M. Taiko has issued an urgent security warning after confirming a compromise in its chain state verification mechanism.  The project said the issue affects the trust model behind bridges deployed on Taiko. The team warned that users can […] The post Taiko Bridge Security Compromise Triggers Urgent Withdrawal Warning appeared first on Live Bitcoin News.

Ethereum scaling solution Taiko confirmed that its bridge source-signal proof validation mechanism was compromised, allowing hackers to bypass protocols and drain an estimated $1.7 million from its ERC-20 vault. Technical Flaw Leads to $1.7 Million Loss Ethereum scaling solution Taiko confirmed June 22 that its chain state verification mechanism had been compromised. As a consequence, […]

Taiko urged users to withdraw bridge funds after a verification mechanism compromise, while Blockaid reported more than $1m in vault losses.

Taiko’s bridge and ERC20 Vault on Ethereum suffered a compromise in its chain state verification mechanism, allowing forged proofs and unauthorized withdrawals.

An exploit of the Secret Network went undiscovered for a week as the hacker moved the loot into Ethereum and then to exchanges.

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.

Axelar has disabled its Secret Network bridge connections after a security incident resulted in the loss of roughly $4.7 million worth of bridged assets. According to Axelar, the exploit affected assets transferred from the Axelar chain to Secret Network through…