AFX Protocol Estimates $24.15 Million in Losses from Bridge Hack

The Arbitrum-based decentralized perpetual futures exchange AFX Protocol suffered a cross-chain bridge hack, leading to an estimated $24.15 million in asset losses, according to a recent Coin Telegraph report. The incident occurred through a third-party protocol, with Arbit,rum's native bridge unaffected. Security firm Blocksecurity detected the attack on AFX's bridge at 9:30 PM UTC on the 23rd. Steven Goldfeder, co-founder of Offchain Labs, confirmed the hack impacted a third-party protocol. Goldfeder stated on social media that the problematic transaction originated from a third-party protocol, while Arbitrum's native bridge remained unaffected. The attacker transferred the stolen $24.15 million in USDC to Ethereum and purchased approximately 12,467 ETH at an average price of $1,937. The cause of the bridge vulnerability and potential additional damages remain under investigation.