AFX Protocol reportedly loses $24M in bridge exploit

Written by Felix Ngstaff editorReviewed by Yohan Yunstaff editorWritten by Felix Ngstaff editorReviewed by Yohan Yunstaff editorAFX Protocol reportedly loses $24M in bridge exploitLatest NewsPublishedJul 23, 2026Offchain Labs said the incident involved a third-party protocol and did not affect Arbitrum’s native bridge infrastructure.AFX Protocol, a decentralized perpetual exchange operating on Arbitrum, reportedly lost $24.15 million on Wednesday in an exploit targeting one of its crosschain bridges. Blockaid said Wednesday it detected an exploit at 9:30 p.m. UTC targeting a bridge operated by AFX. Offchain Labs co-founder Stephen Goldfeder confirmed a bridge hack had affected a third-party protocol.Lookonchain said the exploiter bridged 24.15 million USDC (USDC) to Ethereum, buying 12,467 ETH at an average price of $1937. “We’re aware of a report of a bridge hack on Arbitrum and are investigating. We can confirm that the transaction in question originated from a third-party protocol, and the Arbitrum native bridge has not been hacked or exploited in any way,” Goldfeder said in a post on X. This is a developing story and more information will be added as it becomes available. Subscribe to daily byte-sized crypto news from Cointelegraph Subscribe Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently. ArbitrumHacksScams & CybercrimeMore on the subjectZilliqa Ledger app vulnerability lets attackers recover signer’s private keys14 hours agoZoltan VardaiNews BriefUS seeks forfeiture of $25M in crypto tied to romance, investment scams 14 hours agoEzra ReguerraAllbridge pauses cross-chain bridge after $1.65M exploitJul 20, 2026Felix NgZilliqa Ledger app vulnerability lets attackers recover signer’s private keys14 hours agoZoltan VardaiNews BriefUS seeks forfeiture of…

AFX Protocol reportedly loses $24M in bridge exploit

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