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AFX's cross-chain bridge lost $24.15M USDC in a hack; stolen funds converted to 12,467 ETH on Ethereum.

Market News
22 Jul 2026
Crypto news
View Source
Bearish
AFX's cross-chain bridge lost $24.15M USDC in a hack; stolen funds converted to 12,467 ETH on Ethereum.

On July 22, AFX's third-party cross-chain bridge was exploited, resulting in a loss of $24.15 million USDC. The attacker moved the stolen stablecoins from Arbitrum to Ethereum and converted them into approximately 12,467 ETH. The breach did not affect Arbitrum's native bridge, and investigations are ongoing by AFX, Blockaid, and Arbitrum teams to trace the funds and determine the cause. No recovery or detailed explanation has been announced yet, and the incident highlights risks in third-party bridge infrastructure.

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