Axelar Network said a recent security incident stemmed from an infinite minting vulnerability in a third-party token contract.
According to NS3.AI, Axelar said neither Axelar Network itself nor the IBC protocol was attacked or compromised.
Axelar said the affected contract was a forked CW20-ICS20 implementation that removed two core security checks and did not undergo a new security audit.
Axelar Says Third-Party Token Contract Bug Led to Infinite Minting Incident
2026-06-21 00:07:18
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