$SCRT down 28.5% in june after the axelar bridge exploit sat undetected for 9 days because secret's encrypted transactions made the $4.67m in unbacked token mints invisible on-chain. the privacy feature that's supposed to be the value proposition became perfect cover for the attacker. same ICS-20 vulnerability had a public patch since march, protocols still shipping vulnerable code. $340m+ drained from bridges in H1 2026 and the pace is accelerating not slowing. verus got hit for $11.6m from a $10 transaction because one validation check was missing. every protocol sitting on bridged assets is carrying unpriced tail risk and the cost of exploiting it is lunch money
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