AFX Bridge Exploit Drains $24.15M USDC as Attacker Buys 12,467 ETH

Three crypto protocols lose $35.55mn in day of bridge exploits

Three crypto protocols lost $35.55mn in 24 hours, with AFX Trade drained of $24.15mn after bridge validator keys were compromised. July hack losses have reached roughly $97mn, ahead of June's $75.32mn.

Arbitrum-Based AFX Trade Drained of $24 Million

AFX Trade, a decentralized perpetuals exchange that runs on Arbitrum and settles in the stablecoin USDC, was drained of roughly $24.15 million on Wednesday after an attacker exploited a bridge it operates. The exploit was not a smart contract failure. Five of the AFX’s custody bridge’s hot-validator signatures approved the withdrawal, clearing the roughly two-thirds quorum the bridge requires, according to Legalblock security chief Vladimir S.. …

Arbitrum-based AFX Trade drained of $24 million after bridge keys compromised

Security firms said the attacker used enough hot-validator signatures to approve a 24.15 million USDC withdrawal, while Arbitrum said its native bridge was not affected.

AFX bridge exploit drains $24.15M USDC as attacker buys 12,467 ETH

AFX lost $24.15 million in USDC after its cross-chain bridge was exploited, and stolen funds were later swapped into 12,467 ETH on Ethereum.

AFX Trade’s Arbitrum Bridge Drained of ~$24.15M in USDC After Validator Key Compromise - The Cryptocurrency Post

A decentralized perpetuals exchange operating on Arbitrum lost approximately $24.15 million in USDC after security gaps in a cross-chain bridge it operates were exploited. The incident, first flagged at 21:30 UTC on July 22, 2026, targeted AFX Trade’s custom bridge infrastructure rather than the underlying settlement layer. Exploit tx: https://t.co/XPN25gbZp4Target bridge contract: 0x71518580f36feceffe0721f06ba4703218cd7f63 Funds were transferr…

Two Crypto Bridge Attacks Within Seven Hours Result in $31.6 Million Theft

Two crypto bridge attacks on AFX and Verus Protocol stole over $31.6 million within hours.