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$31.6M stolen in two crypto bridge exploits on Arbitrum and Ethereum

On Wednesday, Blockaid said a bridge incident tied to AFX on Arbitrum cost about $24.2 million, followed hours later by a Verus Ethereum bridge exploit draining about $7.5 million.

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Hackers stole more than $31.6 million across two crypto bridge exploits spaced within hours, targeting bridges operated by decentralized perpetual exchange AFX and Verus Protocol, according to Cointelegraph citing Blockaid. Blockaid said it detected an exploit at 9:30 pm UTC affecting a crosschain bridge used by AFX, with the incident reportedly costing $24.15 million on Wednesday. Cointelegraph also notes that Offchain Labs co-founder Stephen Goldfeder confirmed a bridge hack report on Arbitrum involved a third-party protocol, and said the Arbitrum native bridge was not hacked or exploited. Hours later, Blockaid detected an exploit targeting the Verus Ethereum Bridge that led to about $7.5 million in crypto being drained from bridge reserves. The stolen assets listed by Cointelegraph include Ether, tBTC, USDC, USDt, EURC, MKR, and scrvUSD. Cointelegraph reports that onchain investigator TheCrypticWolf said bridges remain a weak link until security is upgraded, and that DeFiHackLabs contributor SunSec suggested the evidence pointed to compromised keys rather than a smart contract logic bug. The article adds that Blockaid said the Verus Ethereum Bridge attack appears similar to an earlier incident in May that drained $11.58 million.

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