Axelar Network disclosed on X that it has identified a security incident affecting assets bridged over IBC to Secret Network from the Axelar chain. According to the official post from @axelar, approximately $4.67 million worth of tokens were taken. The post was timestamped 13:40 on June 19, 2026, and described the affected assets as those that had moved from Axelar to Secret through the IBC bridge route.
The issue was described as isolated to the Secret-side ICS-20 contract
Based on the information presented by Axelar, the issue is isolated to the Secret-side ICS-20 smart contract of the Cosmos IBC connection between Secret and Axelar. Axelar said this smart contract is used for assets bridged from Axelar to Secret. The statement did not describe the incident as affecting every Axelar connection or every Secret asset; instead, it repeatedly limited the affected area to assets on Secret that were bridged over IBC from Axelar.
In its wording, Axelar separated the affected bridged assets from the rest of its network activity. The official notice said that no other IBC connections appear impacted and that no other Secret tokens appear impacted. It also stated that no other Axelar integrations are affected. These details formed the project’s initial public framing of the incident and its scope.
Emergency committee disabled Secret and Secret-SNIP connections
Axelar said that immediately upon becoming aware of the incident, the Axelar emergency committee disabled the Secret and Secret-SNIP connections. The action was described as a response to the identified incident and was tied to the specific Secret-related connections named in the post. Axelar did not say in this announcement that all of its integrations were suspended; the named disabled connections were Secret and Secret-SNIP.
The project also said it is reaching out to the relevant exchanges and law enforcement agencies. The announcement did not provide a list of the exchanges contacted, nor did it name any law enforcement agency. It only stated that such outreach is underway as part of the response to the incident involving the bridged assets.
Axelar said its core protocol is not affected
Axelar further stated that its core protocol is not affected. The official post also said no other Axelar integrations are affected. These statements were included alongside the project’s assessment that the incident is isolated to the Secret-side ICS-20 smart contract of the Cosmos IBC connection between Secret and Axelar, specifically as it relates to assets bridged from Axelar to Secret.
The announcement did not identify the attacker, did not publish a full transaction-by-transaction breakdown, and did not provide a recovery plan in the text captured from the post. It did, however, state that Axelar is preparing a detailed post-mortem. The forthcoming post-mortem was presented as the next formal step after the initial disclosure, emergency committee action, and outreach to exchanges and law enforcement agencies.
The captured X post also displayed 77,000 views and a “Read 47 replies” interface line. The extracted page text included additional interface numbers such as 47, 62, 379, and 74 without labels directly tying those counts to the security incident itself. The substantive event details in Axelar’s disclosure remain the approximately $4.67 million in tokens taken, the Secret-side ICS-20 smart contract named as the isolated issue area, the disabled Secret and Secret-SNIP connections, and Axelar’s statement that its core protocol is not affected.