Arbitrum-based decentralized perpetual futures exchange AFX Protocol is estimated to have suffered a cross-chain bridge attack that led to the outflow of assets worth $24.15 million. Cointelegraph reported that the incident occurred in a third-party protocol and that the Arbitrum native bridge was not affected.
Security firm Blockaid said it detected an attack targeting an AFX-operated bridge at 9:30 p.m. UTC on July 23. Offchain Labs co-founder Steven Goldfeder also confirmed that the bridge hack affected a third-party protocol.
In a post on social media platform X, formerly Twitter, Goldfeder said the problematic transaction began in a third-party protocol and that the Arbitrum native bridge was not hacked or exploited.
The attacker is believed to have moved the stolen 24.15 million USDC to Ethereum and then bought 12,467 ether at an average price of $1,937.
The cause of the AFX Protocol bridge vulnerability and whether there were additional losses have not yet been confirmed. An investigation is under way.
Chi-gyu Hwang
delight@d-today.co.kr