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Guavy AI Editorial Team••Sentiment: -4.2•Clout: 62

$24 Million USDC Heist Rocks AFX on Arbitrum

ETHUSDCARB

A hacker exploited AFX on the Arbitrum network to steal approximately $24 million in USDC, a stablecoin pegged to the value of the US dollar.

The attacker then bridged the stolen funds from Arbitrum to Ethereum and swapped them for 12,467.5 ETH, which is currently held in a single wallet.

The incident is under investigation by PeckShieldAlert, a blockchain security firm that reported the exploit.