TL;DR The Secret Network/Axelar bridge was suspended after a reported $4.67 million exploit. The attacker allegedly used cast IBC packets to mint unbacked wrapped belongings. The timeline issues: exploit June 10, discovery June 17, bridge disabled June 19. Bridge Security Comes Back Into Focus The Axelar bridge connection to Secret Network has been suspended after…
Secret Network has confirmed a big safety incident involving its Axelar bridge, which was exploited to empty roughly $4.67 million. The assault exploited a vulnerability permitting for an “infinite-mint” of tokens, primarily creating a vast provide out of skinny air inside the bridge’s smart contracts. Secret Network’s Axelar bridge was compromised, resulting in a lack…
Ripple’s XRP might be trending towards a brief squeeze as new evaluation steered its obtainable buying and selling provide may shrink to ranges similar to Bitcoin’s 21 million cap. XRP commentator Chad Steingraber, in a put up on social media platform X, argued that the quantity of the altcoin really obtainable for retail buying and…
In every week dominated by deleveraging headlines, two interoperability- and DeFi-focused initiatives are trying one thing way more structural within the XRP market: programmatic lock-ups of sizable chunks of circulating provide. Axelar’s new “mXRP” yield product has launched with the acknowledged ambition—voiced by co-founder Georgios Vlachos in a latest X Space—of absorbing “$10 billion, 5%…
Axelar used the XRP Seoul 2025 stage on September 21 to tease what promoters framed as an “infinite shopping for energy” flywheel for XRP, centered on a brand new yield-bearing token known as mXRP that’s designed to develop into a structural, programmatic purchaser of the underlying asset. The pitch—splashed throughout slides with “The Infinite Money…