AFX protocol reportedly loses $24M in bridge exploit
Cointelegraph 2026-07-23 01:47:20
Context: The AFX protocol, a decentralized finance platform, has reportedly fallen victim to a bridge exploit, resulting in a significant loss of funds. According to Offchain Labs, the incident involved a third-party protocol and did not compromise Arbitrum's native bridge infrastructure. This exploit has led to a substantial financial loss for the AFX protocol.
Key Facts
- The AFX protocol lost approximately $24 million in a bridge exploit, as reported by Cointelegraph.
- Offchain Labs confirmed that the incident involved a third-party protocol, which was vulnerable to exploitation, and not Arbitrum's native bridge infrastructure.
- The exploit did not affect Arbitrum's native bridge infrastructure, suggesting that the vulnerability was isolated to the third-party protocol involved.