$4.7 Million Hack Hits Axelar Network Bridge

Axelar Network has been hit by a security breach resulting in the loss of approximately $4.67 million.

The exploit targeted a bridge connected to Secret Network, a blockchain focused on privacy-preserving smart contracts.

Axelar's team confirmed the hack within hours and initiated an emergency response, pausing the bridge connection to prevent further losses.

No other integrated chains or assets were compromised, according to Axelar, which powers transactions for networks including Polygon, Avalanche, and Ethereum.