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CryptoMedium•23 July 2026•
1 min read

Arbitrum DEX AFX Trade Exploited for $24 Million in USDC Theft

Key Facts

1Decentralized exchange AFX Trade suffered an exploit on its custody bridge, resulting in the theft of $24 million in USDC stablecoin.

Amid ongoing security challenges in the decentralized finance sector, AFX Trade on the Arbitrum network has suffered a major exploit. According to reports, the attack targeted the platform's specific custody bridge, allowing the perpetrator to drain $24 million in USDC stablecoin. Following the exploit, the hacker successfully moved the stolen funds from Arbitrum to the Ethereum network.

Analytical data indicates that the vulnerability was isolated to the custody bridge operated by AFX Trade rather than a flaw in the underlying Arbitrum network infrastructure. Consequently, the broader network security remains intact despite the significant financial loss suffered by the protocol. This incident highlights the persistent risks associated with bridge protocols in the DeFi ecosystem.

Traders are currently monitoring for any official updates from the AFX Trade team regarding fund recovery or user compensation. Additionally, global markets are awaiting key economic catalysts, including the Eurozone CPI data scheduled for release in the coming days.