#cosmos

The post Secret Network may leave Cosmos for Arbitrum after bridge exploit appeared on BitcoinEthereumNews.com. Secret Network is seeking to move SCRT from Cosmos to Arbitrum, citing security risks, weaker liquidity, and older code. Summary Secret says AI makes older bridge code easier to scan, attack, and exploit over time. The proposed Arbitrum move follows a $4.7 million Axelar-Secret bridge exploit tied to legacy integration. SCRT holders face a Sept. 1 snapshot, with non-native or contract-held balances excluded from claims. In a July 7 governance post, the privacy-focused blockchain said the plan would create a new ERC-20 SCRT token on Arbitrum through a one-time snapshot on Sept. 1. The team said native and staked SCRT balances would count, while sSCRT, bridged SCRT, contract-held tokens, and IBC assets would not qualify. The proposal has not passed yet. The team said the move needs a community vote, and the migration will not proceed if holders reject it. AI exploit risk drives

Secret Network proposes moving SCRT to Arbitrum, citing AI exploit risks, old Cosmos code, bridge losses, thin liquidity and a TVL drop.

The post Secret Network Proposes SCRT Move From Cosmos to Arbitrum appeared on BitcoinEthereumNews.com. Privacy-focused layer-1 blockchain Secret Network is proposing to move from its longtime home on Cosmos to Ethereum layer-2 Arbitrum, citing security risks from artificial intelligence, among other reasons.  Secret Network has been running privacy-preserving smart contracts on Cosmos since 2020, as the ecosystem had strong momentum back then, but the “environment has changed,” the team said Tuesday.   “The security risk is the part we take most seriously,” it said. “Old code is becoming dramatically easier to analyze … With AI, the cost of attacking stale code is falling across the board.”  The recent Axelar-Secret IBC bridge exploit highlighted growing security risk from aging, under-maintained code — a risk the team argues AI-assisted exploitation is making worse. The release of advanced AI models such as Anthropic’s Claude Mythos 5 has dramatically increased the capabilities for d