Axelar Network disclosed on X that it has identified a security incident involving bridged assets. According to the post, the affected assets were bridged over IBC to Secret Network from the Axelar chain, and approximately $4.67 million worth of tokens were taken. The post was shown as published at 13:40 on June 19, 2026, and the news item from Foresight was categorized under “whale movement” with the headline stating that Axelar Network had disclosed a hack involving about $4.67 million in stolen tokens.
Issue described as isolated to the Secret-side ICS-20 contract
Axelar Network wrote in the original post: “We have identified an incident affecting assets bridged over IBC to Secret Network from the Axelar chain, with approximately $4.67M worth of tokens taken.” That statement narrows the event to a specific route: assets moved from the Axelar chain, through IBC, to Secret Network. The amount cited by Axelar Network was approximately $4.67 million in token value.
The project said that, based on current information, the issue is isolated to the Secret-side ICS-20 smart contract of the Cosmos IBC connection between Secret and Axelar. Axelar also described that connection as the one used for assets bridged from Axelar to Secret. The wording in the post does not frame the matter as a failure across all Axelar integrations; it points to the Secret-side ICS-20 smart contract tied to the Cosmos IBC connection between Secret and Axelar.
Secret and Secret-SNIP connections disabled
Axelar Network said that immediately after becoming aware of the incident, the Axelar emergency committee disabled the Secret and Secret-SNIP connections. The same post added that the team is reaching out to relevant exchanges and law enforcement agencies. These actions were presented by Axelar as the immediate response following the identification of the incident.
The project also stated that the incident is isolated to assets on Secret that were bridged over IBC from Axelar. It said no other IBC connections or Secret tokens appear impacted, no other Axelar integrations are affected, and Axelar’s core protocol is not affected. Those statements form the boundary of the incident as described by Axelar Network in the source post.
Detailed post-mortem still being prepared
Axelar Network said it is preparing a detailed post-mortem. The X post did not include that post-mortem itself. The information available from the cited announcement consists of the affected bridge route, the approximate value taken, the Secret-side ICS-20 contract identified as the isolated issue, the disabling of Secret and Secret-SNIP connections, and the outreach to exchanges and law enforcement agencies.
The source page showed 75,000 views and a “Read 46 replies” line. The captured text also included X rendering fragments such as number-flow-react, host, and span, along with interaction numbers including 46, 59, 373, and 73. These items appeared as part of the source page capture, while the substantive announcement remained Axelar Network’s statement about the IBC-related incident.
As of the input news item’s published timestamp, 2026-06-20T01:12:56.000Z, the cited source was Axelar Network’s post on X. The central facts remain unchanged within the supplied material: Axelar Network disclosed an incident affecting assets bridged over IBC from the Axelar chain to Secret Network, said about $4.67 million worth of tokens were taken, identified the Secret-side ICS-20 smart contract as the isolated issue, disabled the Secret and Secret-SNIP connections, and said it is preparing a detailed post-mortem.