ALERT: AFX Protocol's Arbitrum bridge hit in ~$24.15M USDC exploit; funds moved to Ethereum

AI Market Summary

AFX Protocol's custody bridge on Arbitrum was exploited for roughly $24.15M USDC, with proceeds rapidly bridged to Ethereum and swapped into ~12,467 ETH. While Offchain Labs stated the native Arbitrum bridge was not compromised, the incident reinforces smart-contract and bridge custody risk, likely weighing on DeFi/bridge sentiment and near-term liquidity conditions across Arbitrum-to-Ethereum flows.

Impact level

● Medium

Affected assets

ETH/USDT-0.17%

AI Insight · ETH/USDTAI Insight

▼ Bearish

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ALERT: AFX Protocol's bridge on Arbitrum was exploited, with about $24.15 million in USDC drained. Security firm Blockaid said the attacker targeted AFX's own custody bridge. The stolen funds were rapidly bridged to Ethereum and swapped into roughly 12,467 ETH. Offchain Labs stated the native Arbitrum bridge was not affected. Exploit Tx:

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