Axelar Network has confirmed a security breach involving the loss of approximately $4.67 million. The attack targeted a bridge connected to Secret Network, a blockchain focused on privacy-preserving smart contracts.
The incident was first detected by on-chain monitoring tools and Axelar's team confirmed it within hours. They paused the bridge connection to prevent further losses and initiated an internal investigation.
Axelar emphasized that its core protocol remained secure and no other integrated chains or assets were affected. The company stated that the attack only targeted a bridge contract used to transfer assets between Axelar and Secret Network.