Axelar has disabled its bridge connections to Secret Network following a security breach that led to the loss of approximately $4.7 million in assets transferred via the Cosmos Inter-Blockchain Communication (IBC) protocol. The exploit appears confined to the Secret-side ICS-20 smart contract used in the bridge, with no impact on Axelar’s core protocol or other network connections. Axelar has shut down affected routes, alerted exchanges and law enforcement, and is investigating the incident while maintaining that the rest of its infrastructure remains secure. This event adds to recent crypto security challenges, highlighting ongoing risks in…