Svmuu News: The cross-chain protocol Axelar Network issued a statement noting that there has been a misunderstanding within the community regarding recent security incidents. Neither Axelar Network itself nor the IBC protocol has been attacked or compromised, and the affected token smart contract was not developed, deployed, or maintained by Axelar Network. The exploited contract is a forked version based on the CW20-ICS20 implementation. The developers removed two core security checks, leading to an infinite minting vulnerability. This fork eliminated the validation mechanisms originally designed to prevent such issues, altered the contract’s original trust model, and was not subjected to a new security audit.