Secret Network lost $4.67 million due to a cross-chain exploit, and the attack went unnoticed for seven days
**June 21 Update**
Blockchain research firm Common Prefix revealed that hackers exploited a vulnerability in the cross-chain bridge contract connecting Secret Network and Axelar on June 10. The attackers created fake deposits, minted uncollateralized tokens, and cashed out roughly $4.67 million total. The breach went unnoticed for seven days until a standard cross-chain transfer failed on June 17—triggered by insufficient funds in the custodial account, which exposed the anomaly.
The root cause of the vulnerability: two key functions responsible for verifying transfer origins were removed when the contract switched from a custodial model to a minting model. Additionally, the contract had not completed any external audits since its deployment in early 2023. Secret Network criticized Axelar, stating the bridge provider’s infrastructure failed to activate effective anomaly detection or emergency pause mechanisms before the large-scale theft.
Stolen funds were routed through Osmosis to
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Prominent MEV Bot Jaredfromsubway.eth Targeted in Reversal Attack, Lose Over $7.5 Million
A June 21st update revealed that Jaredfromsubway.eth—a prominent MEV bot that has long dominated Ethereum’s sandwich attacks—was hacked by an adversary who exploited a vulnerability in its automated execution system, leading to over $7.5 million in losses. Security firm Blockaid clarified the incident was not a traditional phishing scam or smart contract flaw; instead, it was a "reverse MEV honeypot attack" specifically engineered to target MEV bot decision-making logic.
Over several weeks, the attacker deployed 66 fake token contracts and fake liquidity pools mimicking popular assets like WETH, USDC, and USDT. This setup tricked the bot into executing what looked like high-profit transactions and approving a malicious auxiliary contract controlled by the attacker. In one final transaction, the adversary triggered all hidden backdoors to siphon assets including ETH, USDC, and USDT from the bot’s address.
Prior data from the organization shows that between November 2024 and October 20
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IDF Says It Received Ceasefire Directive in Lebanon, But Operations Will Continue Within 'Security Zone'
June 21 – Local time on June 20, the Israel Defense Forces (IDF) confirmed it is pressing ahead with its military operation in Lebanon’s southern “security zone”. The operation’s current priority is targeting a large-scale underground tunnel network operated by Hezbollah, where dozens of armed militants are believed to be hiding. Separately, the IDF has announced a ceasefire in all other areas of Lebanon.
The IDF noted it has received directives from Israel’s political leadership to enforce the ceasefire, but added that its forces will continue working to dismantle Hezbollah’s military assets within the “security zone” and will respond to any “imminent threats” emerging outside the zone.
Earlier, Israeli Prime Minister Benjamin Netanyahu and Defense Minister Benny Gantz ordered the IDF to implement the Lebanon ceasefire. Per these orders, the IDF will not immediately withdraw from southern Lebanon. Additional reports indicate the IDF Chief of Staff also issued the ceasefire order for
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The situation in the Middle East is becoming increasingly tense, with Iran stating the closure of the Strait of Hormuz. A US-Iran delegation has traveled to Switzerland for negotiations.
June 21: Latest Middle East developments from last night through this morning:
An advisor to Iran’s Supreme Leader warned that the flow of energy in the Middle East will stay disrupted if key agreements remain only on paper. Iran’s Revolutionary Guard Corps (IRGC) Navy announced it is closing the Strait of Hormuz and ordered ships to avoid the area. In response, U.S. Central Command (CENTCOM) stated Iran does not control the strategic waterway. President Trump, meanwhile, declared Iran has been “completely defeated,” claiming the U.S. is no longer showing weakness.
On the Israeli front: The Israel Defense Forces (IDF) said it received a ceasefire order in Lebanon but will continue operations inside the so-called “security zone,” while reaffirming its commitment to the ceasefire agreement. At the same time, the IDF launched airstrikes on Gaza City and southern Lebanon that killed at least 21 people. Lebanon’s government, Hezbollah, and military all condemned the ongoing Israeli attack
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