AFX Trade lost about $24.15 million in USDC on July 22 after an attacker compromised validator signing keys tied to the protocol’s third-party bridge on Arbitrum, moved the funds to Ethereum and swapped them for about 12,467 ETH. AFX later proposed a white-hat negotiation under which the attacker could keep 30% of the stolen funds, or roughly $7.2 million, if 70% is returned; the offer was published on X and sent to the attacker’s wallet via an on-chain message. The incident did not involve Arbitrum’s native bridge or core network infrastructure, and Blockaid said July 2026 hack losses had reached nearly $97 million.