AFX Cross Chain Bridge Exploited, $24.15M USDC Stolen

The Arbitrum ecosystem protocol AFX has suffered a major security breach after its cross chain bridge was exploited, resulting in the theft of approximately 24.15 million USDC.
• Around 24.15 million USDC has been stolen from the AFX operated cross chain bridge.
• Blockchain security firm Blockaid is working with the Arbitrum team and the affected protocol to investigate the attack and help freeze the stolen funds.
• Offchain Labs co founder Steven Goldfeder confirmed the exploit originated from a third party protocol.
• Arbitrum's native bridge has not been compromised and remains unaffected.
• The Arbitrum team is coordinating with the affected protocol and will provide further updates as the investigation continues.
The incident underscores the ongoing security risks surrounding third party cross chain infrastructure, even when the underlying
#SummerCreationCamp #SECWarnsOnChainLendingMayFallUnderSecuritiesLaw $BTC ‌