Axelar Network Security Breach Analysis
- Breach Overview: Axelar Network experienced a security breach involving its Inter-Blockchain Communication bridge with Secret Network, resulting in approximately $4.67 million in stolen assets, highlighting the urgent need for enhanced security in blockchain infrastructure.
- Attack Details: The attacker exploited a vulnerability in the CW20-ICS20 contract on Secret Network, bypassing validation through forged deposit packets to mint unbacked wrapped tokens, revealing significant security risks in cross-chain bridges.
- Emergency Response: Axelar's emergency committee promptly disabled the Secret and Secret-SNIP IBC connections to prevent further losses, notifying major exchanges and law enforcement, demonstrating a strong commitment to user asset security.
- Industry Impact Analysis: This incident reflects a rising trend of security breaches in the crypto industry in 2026, particularly vulnerabilities in cross-chain bridges, emphasizing the critical importance of rigorous auditing and security monitoring in a rapidly evolving ecosystem.
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Technical Analysis for SCRT
Technical Sentiment Analysis for Secret (SCRT). As of , Secret (SCRT) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 2 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for SCRT stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, SCRT is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Secret (SCRT) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0232 | 0.0321 | 0.0416 | 0.0505 | 0.06 | 0.0689 | 0.0784 |
| Fibonacci | 0.0321 | 0.0392 | 0.0435 | 0.0505 | 0.0576 | 0.0619 | 0.0689 |
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