Crypto Bridge Hacks Drain Over $31 Million in Under Seven Hours

Two crypto bridge attacks occurred within seven hours of each other, resulting in the theft of $31.6 million from decentralized perpetual exchange AFX and Verus Protocol.

The first attack targeted a crosschain bridge operated by AFX on Arbitrum, where hackers stole $24.15 million. This exploit was detected by Blockaid at 9:30 pm UTC on Wednesday.

A few hours later, an attacker drained $7.5 million from the Verus Ethereum Bridge, including Ether, tBTC, USDC, USDt, EURC, MKR, and scrvUSD from bridge reserves.

According to SunSec, the evidence suggests that compromised keys were responsible for the exploits, rather than a smart contract logic bug.