Secret Network is hit by an exploit linked to its bridge and cross-chain token handling, resulting in losses of about $4.7 million. Both outlets describe a vulnerability that enables an “infinite mint” behavior in a smart contract tied to Axelar-wrapped assets. According to the reports, the flaw lets an attacker create unbacked tokens rather than only issuing tokens backed by the assets escrowed for the wrapped representation. The attacker then uses the minted tokens to obtain or redeem genuine assets that are held in escrow. Cointelegraph adds that the exploitation remained undetected for about a week as the attacker moved proceeds from the Secret Network environment to Ethereum and then onward to exchanges. NDTV similarly says the incident goes unnoticed for nearly a week and comes to light after a failed cross-chain transaction. The episode is described as one of the larger crypto exploits reported in the month, with the exact amount cited around $4.67 million.