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BULWARK CRASH REPORT · CR-1005

Axelar

Bridges & Cross-chain · Ethereum · BNB · Optimism

Report statusValidVerificationVERIFIEDTested 9 Sept 2026 · Valid until 9 Mar 2027

Verdict Rating

2 of 5 · 70 / 100 overall

“The tested deployment needs stronger safeguards before it can reach the next band.”

Rubric Breakdown

AreaScoreWeight
Depositor Protection7440%
Market Stress6925%
Exit & Liquidity5815%
Safety Assist7020%

Area scores

Depositor Protection74 / 100 · weight 40%
Market Stress69 / 100 · weight 25%
Exit & Liquidity58 / 100 · weight 15%
Sets the rating
Safety Assist70 / 100 · weight 20%

Test Evidence

Report IDCR-1005
Tested9 Sept 2026
Valid until9 Mar 2027
Fork blockEthereum - block 22548000
TVL at test$96.0M
Versionv3.4.0

Scenario Results

Open a scenario for its setup and recorded result.

Frontal DrainDegraded

Setup. Common attack classes are run against the deployment: reentrancy, rounding and precision, access control, flash loans, and donation attacks.

Recorded result. Common attack classes tested against the contracts.

Fork block
Ethereum - block 22548000
Reproduction script
Not published for this report.
Pole TestDegraded

Setup. One privileged key (admin, owner, or a single signer) is assumed leaked or misused.

Recorded result. Privileged key and upgrade path reviewed.

Fork block
Ethereum - block 22548000
Reproduction script
Not published for this report.
Side ImpactDegraded

Setup. The oracle price is pushed ±30% for one block, or through a flash loan on the source pool.

Recorded result. Oracle stress and flash-loan price impact tested.

Fork block
Ethereum - block 22548000
Reproduction script
Not published for this report.
RolloverDegraded

Setup. The main collateral or stablecoin depegs to 0.80 for six hours.

Recorded result. Collateral depeg and liquidation path reviewed.

Fork block
Ethereum - block 22548000
Reproduction script
Not published for this report.
Rear ImpactFailed

Setup. 30% of TVL is withdrawn within 24 hours by many addresses.

Recorded result. Exit queue and stressed withdrawal tested.

Fork block
Ethereum - block 22548000
Reproduction script
Not published for this report.

Findings

  • Exit & Liquidity is the limiting area at 58/100 and sets the rating.
  • 0 of five reviewed scenarios held; 5 recorded a degraded or failed result.
  • The reviewed deployment spans Ethereum, BNB, Optimism and carries an overall weighted score of 70/100.
  • The report covers the tested contracts only; integrations outside that scope are not included.

Visual record

Schematic visual record · CR-1005One report.
Five scenarios.
One verdict.

Verified Resources

WebsiteX / TwitterTest ProtocolScenariosRequest a Test

Limitations of Assessment

  • Scores reflect the deployment and chain set reviewed for this report.
  • On-chain metrics are measured at the test block and may move after publication.
  • The report covers the tested contracts, not integrations outside that scope.

Member Reports

Member Reports · not part of the rating0reports filed
Safety rating · set by the lab2 / 5Signed rating

Test History

ReportTestedVersionStars
CR-10059 Sept 2026v3.4.02 / 5

Protocol badge

BULWARK safety rating: Axelar, 2 of 5 stars

Embed this rating on the protocol site. The badge links back to this report.

<a href="https://bulwarkproof.tech/ratings/axelar/"><img src="https://bulwarkproof.tech/badge/axelar.svg" alt="BULWARK safety rating: Axelar, 2 of 5 stars" width="320" height="112"></a>
Signed by Test Director9 Sept 2026
MethodologyBULWARK Test Protocol v1.0
Fork blockEthereum - block 22548000

BULWARK · Tested · Unbuyable · Re-tested