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Cross-chain protocol Axelar Network has issued a statement regarding a recent security incident, clarifying that there is a misunderstanding within the community about the event. Axelar Network itself and the IBC protocol were not attacked or compromised, and the affected token smart contracts were neither developed, deployed, nor maintained by Axelar Network. The exploited contract is a fork based on CW20-ICS20, but the developers removed two core security checks, leading to an 'infinite minting' vulnerability. By eliminating the original verification mechanisms designed to prevent such issues, this fork altered the contract's original trust model and did not undergo a new security audit. Axelar Network further explained that anyone can deploy contracts for cross-chain asset encapsulation via IBC, and similar contracts have been used to encapsulate tokens from other chains into the Secret Network. This incident is not due to a specific logical flaw or an issue with the IBC protocol itself, but rather a security risk introduced by modifications to third-party contracts.

[Axelar Network Responds to Security Incident: Vulnerability Originates from Third-Party Token Contract 'Infinite Minting' Issue]Cross-chain protocol Axelar Network has issued a statement regarding a recent security incident, clarifying that there is a misunderstanding within the community about the event. Axelar Network itself and the IBC protocol were not attacked or compromised, and the affected token smart contracts were neither developed, deployed, nor maintained by Axelar Network. The exploited contract is a fork based on CW20-ICS20, but the developers removed two core security checks, leading to an 'infinite minting' vulnerability. By eliminating the original verification mechanisms designed to prevent such issues, this fork altered the contract's original trust model and did not undergo a new security audit. Axelar Network further explained that anyone can deploy contracts for cross-chain asset encapsulation via IBC, and similar contracts have been used to encapsulate tokens from other chains into the Secret Network. This incident is not due to a specific logical flaw or an issue with the IBC protocol itself, but rather a security risk introduced by modifications to third-party contracts.

Axelar Network Responds to Security Incident: Vulnerability Originates from Third-Party Token Contract 'Infinite Minting' Issue

On June 20, the US military reported that the commercial shipping traffic in the Strait of Hormuz has increased. The US military continues operations in the area to support freedom of navigation. Today, 55 commercial vessels passed through the Strait of Hormuz.

[US Military: Increased Commercial Shipping Traffic in the Strait of Hormuz Today]On June 20, the US military reported that the commercial shipping traffic in the Strait of Hormuz has increased. The US military continues operations in the area to support freedom of navigation. Today, 55 commercial vessels passed through the Strait of Hormuz.

US Military: Increased Commercial Shipping Traffic in the Strait of Hormuz Today

On June 20, the U.S. military reported an increase in the volume of commercial shipping traffic in the Strait of Hormuz. The U.S. military continues operations in the area to support freedom of navigation. Today, 55 commercial vessels passed through the Strait of Hormuz.

[U.S. Military: Increase in Commercial Shipping Traffic in the Strait of Hormuz]On June 20, the U.S. military reported an increase in the volume of commercial shipping traffic in the Strait of Hormuz. The U.S. military continues operations in the area to support freedom of navigation. Today, 55 commercial vessels passed through the Strait of Hormuz.

U.S. Military: Increase in Commercial Shipping Traffic in the Strait of Hormuz

Market data shows that BCH has surpassed $200, currently priced at $200.1, with a 24-hour increase of 1.73%. The market is experiencing significant volatility, so please ensure proper risk management.

[BCH Surpasses $200]Market data shows that BCH has surpassed $200, currently priced at $200.1, with a 24-hour increase of 1.73%. The market is experiencing significant volatility, so please ensure proper risk management.

BCH Surpasses $200

On June 20, U.S. media cited senior officials stating that the U.S. military has not observed any military movements indicating that Iran is closing the Strait of Hormuz.

[US Military Reports No Observations of Iran Closing Strait of Hormuz]On June 20, U.S. media cited senior officials stating that the U.S. military has not observed any military movements indicating that Iran is closing the Strait of Hormuz.

US Military Reports No Observations of Iran Closing Strait of Hormuz

re Surges 41.29% in 24H, Currently at 1.0118 USDT

【re currently trades at 1.0118 USDT, up 41.29% in 24h, according to HTX market data.】re Surges 41.29% in 24H, Currently at 1.0118 USDT

re currently trades at 1.0118 USDT, up 41.29% in 24h, according to HTX market data.

On June 20, according to Saudi media Hadath: An Iranian delegation has traveled to Switzerland, consisting of the Governor of the Central Bank of Iran and the Deputy Minister of Oil.

[Iranian Delegation Travels to Switzerland]On June 20, according to Saudi media Hadath: An Iranian delegation has traveled to Switzerland, consisting of the Governor of the Central Bank of Iran and the Deputy Minister of Oil.

Iranian Delegation Travels to Switzerland

On June 20, U.S. President Trump stated: I ended 8 wars, and the war with Iran was the most difficult; the F-47 is currently under construction. The assembly line has been initiated. They say this is the greatest fighter jet of all time. We will verify that.

[Trump: I Ended 8 Wars, the War with Iran Was the Most Difficult]On June 20, U.S. President Trump stated: I ended 8 wars, and the war with Iran was the most difficult; the F-47 is currently under construction. The assembly line has been initiated. They say this is the greatest fighter jet of all time. We will verify that.

Trump: I Ended 8 Wars, the War with Iran Was the Most Difficult

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Trump: I Ended 8 Wars, the War with Iran Was the Most Difficult

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