[Axelar Network Responds to Security Incident: Vulnerability Stems from Third-Party Token Contract 'Unlimited Minting' Issue] According to a report by Jinse Finance, cross-chain protocol Axelar Network has issued a statement regarding the recent security incident, clarifying that the community has misunderstood the event. Axelar Network itself and the IBC protocol were neither attacked nor 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 CW20-ICS20 implementation, but the developers removed two critical security checks, leading to the 'unlimited minting' vulnerability. By removing the original verification mechanism designed to prevent such issues, the fork altered the contract's original trust model and was not subjected to a new security audit. Axelar Network further explained that anyone can deploy contracts for cross-chain asset wrapping via IBC, and similar contracts have been used to wrap tokens from other chains onto Secret Network. This incident does not involve inherent logical flaws or issues with the IBC protocol itself but rather security risks introduced by modifications to third-party contracts.