Axelar Network Says Bridge Hack Caused $4.67 Million Loss
Summary
- Axelar Network said a bridge hack caused losses of about $4.67 million.
- It disabled its connection to Secret Network following the incident, while its Core Protocol was unaffected and continues to operate normally.
- Repeated attacks targeting bridge protocols in the cryptocurrency industry have made the security of cross-chain infrastructure a key challenge.
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Axelar Network said a bridge hack caused losses of about $4.67 million.
The cross-chain protocol wrote on X on June 19 that it had disabled its connection to Secret Network following the security incident.
Its Core Protocol was not affected and continues to operate normally.
Axelar said it is investigating the cause of the incident and the full extent of the damage, while taking additional security measures.
Axelar provides cross-chain infrastructure that connects assets and data across multiple blockchains.
Repeated attacks targeting bridge protocols have made the security of cross-chain infrastructure a key challenge for the cryptocurrency industry.
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