The Block - 2026-06-20
3 items collected.
1. Secret Network’s Axelar bridge drained for $4.67 million in infinite-mint exploit that went unnoticed for seven days
Author: Zack Abrams
Published: 6/20/2026, 9:57:05 PM
Categories: Crypto Ecosystems, Security, axelar, Exploits, Hacks, ibc, secret-network
Secret Network says about $770,000 of the stolen funds still sits in the attacker's Axelar wallet, and that Axelar declined its request to freeze it.
2. Charles Schwab is working with Cboe to launch S&P 500 ‘yes-or-no’ binary options contracts: WSJ
Author: Zack Abrams
Published: 6/20/2026, 7:06:25 PM
Categories: Companies, Finance firms, cboe, charles-schwab, TradFi banks
The binary contracts would mark the brokerage's first move into prediction-market-style products, a sector that Kalshi and Polymarket already dominate.
3. Andre Cronje, two others resign from Sonic Labs board as S token trades 97% below its peak
Author: Zack Abrams
Published: 6/20/2026, 4:01:05 PM
Categories: Crypto Ecosystems, Layer 1s, fantom, sonic labs
Sonic Labs said the three "remain invested in Sonic's success" but will no longer make business decisions for the Layer 1 network, formerly Fantom.