AFX DEX exploited for $24M USDC

A hacker has exploited Arbitrum’s AFX decentralized exchange for 24 million dollars. He had stolen funds from Abitrum to Ethereum and swapped them for about 12467 ETH and is currently sitting in the address shown in this screenshot.

Another bridge gets hacked, every season it’s the same, bridges are always the weakest link in DeFi. Some are calling it a hack by developers themselves but we can neither confirm nor deny it.

Steven, the developer has posted on twitter that they are aware of this bridge hack on Arbitrum. He has also confirmed that the transaction in question originated from a 3rd party protocol, and the native bridge has been hacked or exploited in any way. They are in touch with a 4rd party team and will be giving us more details soon.

not impressive ! same show : Devs hack themselves :))

— Space (@MarkRss3) July 23, 2026

This is a good reminder to use bridges only from protocols you trust 100%. The native bridge being clear is the first thing you want to hear in a situation like this. Hope they sort this out quickly and keep security tight.