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That’s it, another hack again, folks. This time, the bridge operated by AFX was targeted by a hacker, who stole somewhere around 24.15 million USDC.
So you can picture it clearly: AFX is a Perp DEX exchange running on its own separate Layer 1 blockchain, using a fully on-chain orderbook model. Here, the Arbitrum network only serves as a gateway for users to deposit USDC.
The bitter part is that the hacker didn’t attack the exchange—he went straight for the bridge operated by AFX. This is where all the USDC deposited by users from Arbitrum is locked up.
Right after the incident, Arbitrum also issued a statement confirming it immediately. They said the official Arbitrum bridge was not affected at all, and the withdrawal transactions were entirely initiated from the third-party infrastructure on AFX’s side.