Secret Network Loses $4.67M in Infinite Mint Exploit

Cointelegraph Staff

(03:49 AM UTC)

1 min read

An attacker has used an “infinite mint” bug in a vulnerable smart contract on the Secret Network to create unbacked, wrapped versions of Axelar-wrapped assets, resulting in a $4.67 million exploit.

The exploit happened on June 10 but was discovered a week later on June 17, after a failed cross-chain transaction caused by an “insufficient funds” error in the drained account was detected…

COINOTAG does not provide financial advisory services. This content is for informational purposes only and should not be considered investment advice. Cryptocurrency investments involve high risk.

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