Question 1

How much was stolen from AFX Trade?

Accepted Answer

Security firm Blockaid put the loss at $24.15 million in USDC, drained from a custody bridge AFX operates on Arbitrum; PeckShield tracked the funds as they were bridged to Ethereum and swapped for 12,468 ETH.

Question 2

Was the Arbitrum network itself hacked?

Accepted Answer

No. Arbitrum co-founder Steven Goldfeder said the network's native bridge "has not been hacked or exploited in any way," and AFX said the damage was isolated to the third-party custody bridge it operates.

Question 3

How did the attackers get in?

Accepted Answer

According to AFX's post-mortem, the intrusion started on July 9 when a developer was contacted over Telegram and induced to clone a malicious repository, after which the attacker moved through AFX's JFrog build system and eventually compromised validator nodes to sign off the bridge transfer.

AFX

AFX Trade pledges ‘goodwill plan’ on August 3 after $24M bridge theft

One sharp brief.
Every day.

AFX

AFX Trade pledges ‘goodwill plan’ on August 3 after $24M bridge theft

One sharp brief.Every day.

One sharp brief.
Every day.