๐จ $ETH BRIDGE HACK: 24M USDC STOLEN & SWAPPED FOR 12,467 ETH โ ๏ธ
๐ On-chain forensics reveal the Arbitrum bridge of AFX Trade was compromised 3 hours ago, with 24.15M USDC drained and instantly cross-chained to Ethereum. ๐ฅ The attacker converted the funds into 12,467.4 ETH at $1,937, signaling a well-orchestrated liquidity exit.
๐ This event highlights persistent structural risks in cross-chain infrastructureโeven established bridges remain prime targets for sophisticated actors. ๐ The swift swap to ETH suggests a liquidation intent or OTC preparation, adding short-term sell pressure on the asset.
๐ฌ Will this incident trigger a broader reassessment of bridge security valuations across DeFi? ๐
โ ๏ธ Not financial advice. Always manage your risk. ๐ก๏ธ
๐ท๏ธ #ETH #Hack #Crypto #Security #Bridge
๐จ ๐ก๏ธ
๐ On-chain forensics reveal the Arbitrum bridge of AFX Trade was compromised 3 hours ago, with 24.15M USDC drained and instantly cross-chained to Ethereum. ๐ฅ The attacker converted the funds into 12,467.4 ETH at $1,937, signaling a well-orchestrated liquidity exit.
๐ This event highlights persistent structural risks in cross-chain infrastructureโeven established bridges remain prime targets for sophisticated actors. ๐ The swift swap to ETH suggests a liquidation intent or OTC preparation, adding short-term sell pressure on the asset.
๐ฌ Will this incident trigger a broader reassessment of bridge security valuations across DeFi? ๐
โ ๏ธ Not financial advice. Always manage your risk. ๐ก๏ธ
๐ท๏ธ #ETH #Hack #Crypto #Security #Bridge
๐จ ๐ก๏ธ