The 88% evaporation of TVL in the Cosmos ecosystem is too painful. This migration of Secret Network is more like being cornered by security vulnerabilities than an active upgrade. The reason that AI reduces attack costs sounds novel but it's quite heartbreaking upon reflection.

According to CoinJie Web news, Cointelegraph reports that the privacy blockchain Secret Network has proposed migrating from Cosmos to Arbitrum. The team said that AI technology reduces the cost of attacks, making security risks the primary consideration. The proposal requires a governance vote, with a plan to take a snapshot of SCRT balances on September 1 and issue a new ERC-20 contract on Arbitrum. Previously, a vulnerability in the Axelar-Secret IBC bridge led to a loss of $4.7 million. The total value locked in the Cosmos ecosystem has fallen 88% from its 2021 peak to $2 billion, and Secret Network’s current TVL is $1.3 million. After the news was released, the SCRT token dropped 24% over 24 hours to 4.1 cents.