Hackers Drain $24.15 Million in USDC From Arbitrum Bridge Operator AFX
Security firm Blockaid reported that a cross-chain bridge operated by Arbitrum-based protocol AFX was drained of approximately $24.15 million in USDC following an exploit on July 22. The attack did not bypass the smart contract logic; instead, a quorum of hot validators signed an unauthorized withdrawal that settled after the required dispute window.
The stolen assets were bridged to Ethereum and exchanged for 12,467 ETH in a swap that currently sits in a single address, on-chain trackers noted. Arbitrum developers confirmed that the network’s native bridge and the broader USDC settlement layer were not compromised, while Blockaid continues working with the chain’s operators to track and contain the funds.
From the sources (15 posts)
@officer_secretLooks like there is a USDC bridge possible exploit on Arbitrum! @blockaid_ detected an abnormal bridge withdrawal that extracted ~$24.15M USDC from an Arbitrum USDC custody bridge contract. The on-chain bridge logic was not bypassed; the m
@ethdailyBREAKING: $24 million USDC has been drained from a third-party bridging protocol on Arbitrum. The Arbitrum native bridge and Circle CCTP protocol are not involved. Investigations ongoing 🧵👇
@noxosintelPublic engine detected a possible exploit of the #USDC bridge on #Arbitrum, exceeding $24M. 1. Exploit transaction: 2. The funds were then bridged to the same address on #Ethereum across 6 transactions: https://
@odysseas_ethNew hack: A $24.15M Arbitrum USDC bridge (not CCTP) withdrawal looks like validator-path compromise, not a contract logic bypass. 5 hot-validator signatures carried 7,142/10,000 power (>2/3). After the 200s dispute window, funds were
@blockaid_Blockaid detected an exploit at 2026-07-22 21:30 UTC targeting @AFX_XYZ, a protocol on @arbitrum. The exploit was specific to a bridge that AFX operates. Approximately 24.15M USDC has been drained thus far from the protocol. Our team has b
@officer_secretAccording to @peckshield , there is an abnormal bridge withdrawal that extracted ~$24.15M USDC from an Arbitrum USDC custody bridge contract. The on-chain bridge logic was not bypassed; the malicious withdrawal was authorized by a quorum of
@peckshieldalert#PeckShieldAlert @AFX_XYZ on #Arbitrum has been exploited for ~$24M USDC. The exploiter has bridged the stolen funds from #Abitrum to #Ethereum and swapped them for 12,467.5 $ETH, currently sitting in 0x6276...ebAC.
@wublockchainAFX-Operated Bridge Loses $24.15 Million in USDC Exploit Onchain security firm Blockaid said it detected an attack on a cross-chain bridge operated by Arbitrum-based protocol AFX at 21:30 UTC on July 22, with about 24.15 million USDC stole
@cointelegraph🚨 ALERT: Blockaid detected a ~24.15M $USDC exploit on AFX, a third-party bridge protocol on Arbitrum. Offchain Labs co-founder Steven Goldfeder says the native Arbitrum bridge itself was not hacked or exploited and they are investigating.
@arbitrumRT @sgoldfed: We're aware of a report of a bridge hack on Arbitrum and are investigating. We can confirm that the transaction in question o…
@lookonchainAFX Trade(@AFX_XYZ) was exploited for $24.15M! The exploiter bridged 24.15M $USDC to #Ethereum and bought 12,467 $ETH at an average price of $1,937.
@theblockcoNEW: AFX Trade, a protocol on Arbitrum, has suffered an exploit with roughly 24.15M USDC drained, according to Blockaid. Offchain Labs' Steven Goldfeder says the Arbitrum team is investigating the incident and confirmed that the Arbitrum n
@kalshi_cryptoJUST IN: Arbitrum-based perp DEX AFX exploited for $24M
@zookoRT @sgoldfed: We're aware of a report of a bridge hack on Arbitrum and are investigating. We can confirm that the transaction in question o…
@laurashinRT @sgoldfed: We're aware of a report of a bridge hack on Arbitrum and are investigating. We can confirm that the transaction in question o…