AFX Trade on Arbitrum exploited; about 24.15M USDC drained, Blockaid says

AI Market Summary

AFX Trade on Arbitrum was exploited, with about 24.15M USDC reportedly drained, raising near-term risk-off sentiment around Arbitrum-based DeFi and protocol security. Offchain Labs says Arbitrum is investigating and that the native bridge was not compromised, which may limit broader contagion. Still, the event can pressure activity, liquidity, and confidence across Arbitrum ecosystem apps.

Impact level

● Medium

Affected assets

ARB/USDT+0.38%

AI Insight · ARB/USDTAI Insight

▼ Bearish

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AFX Trade, a protocol on Arbitrum, was hit by an exploit that drained roughly 24.15M USDC, according to Blockaid. Steven Goldfeder of Offchain Labs said the Arbitrum team is investigating the incident and confirmed the Arbitrum native bridge was not hacked.

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