AFX Protocol Hit by Reported $24M Bridge Exploit

Blockchain security firms reported a $24.15 million exploit targeting an AFX Protocol bridge, with investigations ongoing.

AFX Protocol Hit by Reported $24M Bridge Exploit

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Written by

Felix Ng

staff editor

Reviewed by

Yohan Yun

staff editor

Written by

Felix Ng

staff editor

Reviewed by

Yohan Yun

staff editor

AFX protocol reportedly loses $24M in bridge exploit

Latest News

Published

Jul 23, 2026

Offchain Labs said the incident involved a third-party protocol and did not affect Arbitrum’s native bridge infrastructure.

AFX, 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 pm 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.

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