PriFi.info

Secret Network

A Cosmos proof-of-stake chain whose smart contracts run on encrypted data inside Intel SGX enclaves, live since 2020 and run since August 2026 under new stewardship after its long-time developer stepped back.

LivePrivacy blockchain

The chain has run since February 2020, with secret contracts since 15 September 2020; since Proposal 365 passed on 19 August 2026 it has continued under new stewardship after SCRT Labs stepped back, with about 1.46 billion SCRT in supply on 23 October 2026.

Launched
Feb 2020
Token
SCRT
Chains
Secret Network

Checked on 23 Oct 2026. Information only, not investment advice.

How it works

Secret Network is a proof-of-stake blockchain built with the Cosmos SDK and Tendermint and connected to other chains over IBC, whose smart contracts, called secret contracts, run on encrypted inputs, outputs and state. Its privacy comes from secure hardware rather than zero-knowledge proofs: every validator runs the contract engine inside an Intel SGX enclave, a protected area of the processor meant to keep data hidden even from the machine's owner, and the trusted core inside the enclave executes secret contracts and handles remote attestation and sealing. Transactions to secret contracts are encrypted with keys derived from a network-wide consensus seed that should exist only inside enclaves, and a new node must prove through remote attestation that it runs genuine enclave code before it receives the seed. Each contract decides what to reveal: privacy tokens under the SNIP-20 standard, such as sSCRT, the private form of the native SCRT, keep balances and transfer amounts encrypted, and holders read them with viewing keys.

The chain launched in February 2020, with a genesis block signed by its community, and added secret contracts on 15 September 2020, with support from Enigma MPC, the company behind the earlier Enigma project. SCRT Labs, its Israel-based core development team, later built SecretVM, confidential virtual machines aimed mainly at AI workloads, which added AMD SEV-SNP hardware in February 2026 and Intel Trust Authority attestation in May 2026. In 2026 the network's governance changed course: after an exploit of the Axelar bridge contract on 10 June, SCRT Labs proposed moving SCRT to Arbitrum and ending its support for the chain, holders rejected that plan in a vote that closed on 28 July, and on 19 August they passed Proposal 365, which keeps the chain running under new stewardship and minted about 1.08 billion SCRT to fund a new foundation, core development, validators and compensation for hack victims.

Some things stay visible. Native SCRT, held and staked through the chain's ordinary modules, is public like any Cosmos token, so addresses, balances, transfers and delegations can be read, and only assets wrapped into privacy tokens such as sSCRT are hidden. The sender of each transaction, the contract it calls, its fees and its timing are public, and contracts can publish data of their own. The privacy also rests on the hardware: in 2022 researchers extracted the consensus seed through Intel SGX flaws, which they said could decrypt every private transaction since the chain began, and in 2025 attacks that need physical access to a server forged enclave attestations; SCRT Labs patched the network and rotated the seed, and said no mainnet data was exposed by the 2025 attacks.

TVL and market cap

Secret Network has no chart on this site. It is not in the protocol list, whose TVL figures come from DefiLlama, and its token, SCRT, is not in the privacy-coin basket, whose market caps come from Coin Metrics, so PriFi.info holds no daily series for it. The value held in private balances on a privacy network is encrypted, so it cannot be measured from public data; the Watchlist explains why such networks are not counted in the site's figures.

What it hides and what it does not

What it hides

  • The inputs, outputs and stored state of secret contracts, decrypted only inside SGX enclaves.
  • Balances and transfer amounts of privacy tokens such as sSCRT, readable by their holders with viewing keys.

What it does not hide

  • Native SCRT: addresses, balances, transfers and staking are public, as on any Cosmos chain.
  • The sender of each transaction, the contract it calls, its fees and its timing.
  • Anything a contract chooses to publish.
  • Everything encrypted with the consensus seed, to anyone who extracts that seed from an enclave, as researchers did in 2022.

Drawn from how it works, above; the sources are listed at the end of the page. Where privacy still leaks explains the patterns, such as timing and amounts, that can give users of any design away.

Audits

None found when this profile was checked on 23 Oct 2026.

Incidents

Five incidents, oldest first: flaws, exploits, sanctions, prosecutions and other events that affected the project or its users.

  1. The US Securities and Exchange Commission announced settled charges against Enigma MPC, the company behind the Enigma project, for an unregistered offering of securities: the sale of ENG tokens in 2017, which raised about $45 million. Without admitting or denying the findings, Enigma agreed to return funds to buyers through a claims process, register ENG as securities, file periodic reports and pay a $500,000 penalty.

    Source: SEC Orders Blockchain Company to Pay Penalty for Unregistered Offering and Register Tokens as Securities (press release 2020-37) US Securities and Exchange Commission, 19 Feb 2020

  2. The SGX.Fail researchers told SCRT Labs in early October 2022 that they had extracted the network's consensus seed, a master decryption key for its private transactions, through the Intel SGX flaws known as xAPIC and MMIO, made public on 9 August 2022, so the privacy of past transactions could no longer be guaranteed. Registration of new nodes was frozen and, from the upgrade of 2 November 2022, reopened only to hardware without the flaws; SCRT Labs told The Block, which reported it on 30 November, that funds were never at risk.

    Sources: SGX.Fail: How Stuff Gets eXposed SGX.Fail researchers; Secret Network says it resolved risk from Intel hardware vulnerability The Block, 30 Nov 2022; Secret Network Crypto Transactions Not So Secret After All Blockworks

  3. Two academic attacks on server SGX, WireTap and Battering RAM, showed that someone with physical access and special equipment could forge enclave attestations, and the researchers built a forged testnet enclave that read confidential testnet data. SCRT Labs said no mainnet data was taken and funds were never at risk, and its 1.22 upgrade suspended new nodes, kept an allowlist of trusted validators and infrastructure and rotated the network seed.

    Source: Secret Network Security Update: Intel SGX Vulnerability Response Secret Network, 30 Sep 2025

  4. Researchers disclosed TEE.Fail, an extension of the WireTap attack to newer Intel Xeon processors that can forge SGX and TDX attestations with physical access; Secret Labs said no action was needed by users or node operators because of the earlier mitigations.

    Source: Secret Labs Response to TEE.Fail DDR5 Vulnerability Secret Network, 28 Oct 2025

  5. Exploit

    An attacker drained about $4.67 million of bridged assets from the Axelar bridge contract on Secret Network by opening a channel from a chain of their own and relaying forged transfers, which the contract minted without checking their source; the theft went unnoticed until a failed transfer on 17 June, and Axelar disclosed it on 19 June. Secret said native SCRT and its privacy and confidential computing were not affected.

    Sources: Security Incident: Axelar-Secret IBC Bridge Exploit, June 10, 2026 Secret Network forum; Secret Network's Axelar bridge drained for $4.67 million in infinite-mint exploit that went unnoticed for seven days The Block; Secret Network bridge exploited in infinite mint bug Cointelegraph

Milestones

Nine milestones, oldest first.

  1. The network launched, with a genesis block signed by its community; Enigma MPC said it had supported its development since the start of 2020 and no longer supported its earlier Enigma protocol.

    Source: Enigma MPC, Form 10-12G/A (registration of ENG tokens, data as of 6 November 2020) US Securities and Exchange Commission (EDGAR)

  2. Secret contracts went live on mainnet through the Vulcan upgrade, governance proposal 21, which added a contract module built on CosmWasm, making Secret Network the first layer 1 with general-purpose private computation, by its own account.

    Sources: Upgrade Complete! Secret Contracts LIVE on Mainnet Secret Network forum, 15 Sep 2020; Secret Contracts Upgrade + Addition of Foundation Rewards (Codename: Vulcan), proposal 21 Valopers (Secret Network explorer); Enigma MPC, Form 10-12G/A (registration of ENG tokens, data as of 6 November 2020) US Securities and Exchange Commission (EDGAR)

  3. SCRT Labs announced $400 million in ecosystem funding under its Shockwave initiative: a $225 million ecosystem fund from more than 25 investors and partners and a $175 million accelerator pool in SCRT.

    Source: Secret Network Announces $400 Million in Ecosystem Funding Alongside Substantial New Investment from Leading Firms Business Wire, 19 Jan 2022

  4. SecretVM, SCRT Labs' confidential virtual machines, added AMD SEV-SNP hardware alongside Intel.

    Source: SecretVM: Expanding Confidential Computing with AMD SEV-SNP Secret Network, 11 Feb 2026

  5. SCRT Labs built Intel Trust Authority attestation into every SecretVM.

    Source: Verification by Default: SCRT Labs Integrates Intel Trust Authority Into Every SecretVM Secret Network, 18 May 2026

  6. SCRT Labs proposed migrating SCRT to an ERC-20 token on Arbitrum through a snapshot on 1 September 2026, cutting inflation from 9% to 5% and ending its maintenance of the Cosmos chain, citing old bridge paths and code that AI tools make cheaper to attack.

    Sources: Secret Network may leave Cosmos for Arbitrum after bridge exploit crypto.news; Secret Network Unveils Proposal to Move SCRT to Arbitrum The Crypto Times, 8 Jul 2026

  7. Proposal 360, a signalling vote on the Arbitrum migration, was rejected: about 0.54 million SCRT voted yes, 19.6 million no and 6.1 million no with veto, with 50.1 million abstaining.

    Source: Proposal 360: Signaling Proposal: Migrate $SCRT to Arbitrum via Snapshot Secret Network REST API (Lavender.Five Nodes), 23 Oct 2026

  8. AITECH Cloud Network announced a partnership with Secret Network to bring confidential computing to Agent Forge, its no-code AI agent platform.

    Source: AITECH Cloud Network and Secret Network Partner to Bring Confidential AI to Agent Forge Secret Network, 11 Aug 2026

  9. Proposal 365, Community Continuance of Secret Network (L1), passed with 38.8 million SCRT voting yes, about 15,000 no, 5.0 million no with veto and 53.5 million abstaining; its upgrade, version 1.26.0, took effect at block 26,790,327 on 21 August 2026 and minted about 1.08 billion SCRT.

    Sources: Proposal 365: Community Continuance of Secret Network (L1) Secret Network REST API (Lavender.Five Nodes), 23 Oct 2026; Secret Network: SCRT supply quadrupled, what applies CryptoTicker, 23 Aug 2026; SCRT total supply (uscrt) Secret Network REST API (Lavender.Five Nodes), 23 Oct 2026

Funding

Three sources of funding, oldest first. Amounts are in US dollars; a dash means the sources give no US dollar figure.

DateRoundAmountInvestors

Sale of ENG tokens by Enigma MPC from June to 11 September 2017, about $45 million according to the SEC, which found it to be an unregistered securities offering (Enigma's own filing puts the proceeds at about $42 million: $25 million in pre-sales and $17 million in the crowd sale)

Sources: SEC Orders Blockchain Company to Pay Penalty for Unregistered Offering and Register Tokens as Securities (press release 2020-37) US Securities and Exchange Commission, 19 Feb 2020; Enigma MPC, Form 10-12G/A (registration of ENG tokens, data as of 6 November 2020) US Securities and Exchange Commission (EDGAR)

 $45M –

$400 million of ecosystem funding announced by SCRT Labs under its Shockwave initiative, a $225 million ecosystem fund and a $175 million accelerator pool paid in SCRT: money for builders on the network rather than capital raised by it, so no amount is counted here; DeFiance Capital, Alameda Research, CoinFund and HashKey bought SCRT positions of undisclosed size

Source: Secret Network Announces $400 Million in Ecosystem Funding Alongside Substantial New Investment from Leading Firms Business Wire, 19 Jan 2022

 – DeFiance Capital, Alameda Research, CoinFund, HashKey

Dilution mint under Proposal 365 of about 1.08 billion new SCRT for a new foundation and core development, an ecosystem fund, a validator programme, advisers and compensation for those harmed in earlier incidents (paid in SCRT, so no US dollar figure is given)

Sources: Proposal 365: Community Continuance of Secret Network (L1) Secret Network REST API (Lavender.Five Nodes), 23 Oct 2026; Secret Network: SCRT supply quadrupled, what applies CryptoTicker, 23 Aug 2026

 – –

Risks

Secret Network's privacy rests on Intel SGX and on every node holding the same consensus seed: breaking one enclave can expose everything encrypted with that seed, as researchers showed in 2022, and attacks with physical access to servers broke SGX attestation again in 2025, after which the network suspended new nodes and kept an allowlist. Native SCRT and its transfers are public, so only wrapped tokens and contract data are private. In 2026 the project lost its long-time developer: SCRT Labs proposed leaving for Arbitrum after a $4.67 million exploit of the Axelar bridge contract, holders rejected the move, and Proposal 365 roughly quadrupled the supply to fund new stewards, so holdings from before the mint make up about a quarter of SCRT and maintenance now depends on an organisation set up in August 2026. No public audit of the chain's core code was found when this profile was checked.

Sources

The documents this profile rests on. Each audit, incident, milestone and funding round above also links its own sources.

Checked on 23 Oct 2026. Confidence: reported. Information only, not investment, legal or tax advice.

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