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An exploiter emptied roughly $24 million in USDC from a bridge operated by derivatives exchange AFX on Arbitrum, draining nearly all funds locked in the contract, per security firm Blockaid. The hit is a market-structure risk for third-party bridge protocols and could pressure ARB sentiment and DeFi TVL on the network, though Arbitrum co-founder Steven Goldfeder confirmed the canonical native bridge was untouched. Watch whether AFX offers user reimbursement and whether any drained USDC is frozen by Circle, which would cap contagion.
As a Crypto signal, watch whether it changes price action, volatility, or flows around ARB, USDC, ETH.
Original Source: The Defiant
This page is market information analysis, not investment advice.
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