Attacker Drains $24M in USDC From AFX Bridge on Arbitrum

AFX Trade, a derivatives exchange that settles trades in $USDC, was exploited for approximately $24.15 million on July 22 after an attacker targeted a bridge the protocol operates on Arbitrum, according to security firm Blockaid.　　Blockaid said it detected the exploit at 21:30 UTC and published the transaction on Arbiscan. “The exploit was specific to a bridge that AFX operates,” the firm wrote, adding that it is working with the Arbitrum team “to respond to the incident, to engage with the affected protocol, and to help them contain the stolen funds.”　　The attacker moved the funds to Ethereum and swapped them for 12,467 $ETH at an average price of $1,937, according to onchain analytics account Lookonchain, which linked to the exploiters address on Arkham.　　AFX had not published a statement on its X account as of the time of writing. The Defiant reached out to AFX for comment.　　Arbitrum Says Native Bridge Unaffected　　Steven Goldfeder, co-founder of Arbitrum developer Offchain Labs, said the exploit did not compromise Arbitrums own infrastructure.　　“Were 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