AFX Trade on Arbitrum Suffers Major Exploit, About $24.15M in USDC Drained
AI Market Summary
AFX Trade on Arbitrum was exploited, with roughly $24.15m in USDC reportedly drained via an AFX-operated bridge rather than Arbitrum's native bridge. The incident raises near-term counterparty and bridge-risk concerns for Arbitrum DeFi users and can pressure liquidity, TVL, and risk appetite across protocols connected to the affected infrastructure. Blockaid and Arbitrum teams are coordinating the response, but uncertainty typically tightens conditions temporarily.
Impact level
● Medium
Affected assets
ARB/USDT-1.63%
AI Insight · ARB/USDTAI Insight
▼ Bearish
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AFX Trade, a protocol deployed on Arbitrum, was hit by an exploit that siphoned roughly $24.15 million in USDC, according to blockchain security firm Blockaid. The incident was traced to a bridge run by AFX rather than Arbitrum's native bridge. Blockaid said it is coordinating with the Arbitrum team and the affected protocol on the response.
