DeFi Bridge Exploits Drain Over $31 Million in 24 Hours

Twin DeFi bridge exploits have drained over $31 million from AFX Trade and VerusCoin in just 24 hours. On July 22, an attacker seized control of compromised validator keys on AFX Trade's Arbitrum-based perpetual exchange, directing the platform to send $24.15 million in USDC to an external wallet. The hacker then swapped the stolen stablecoin for approximately 12,467.5 ETH, worth around $24 million at the time.

Just hours later, a second exploit targeted the VerusCoin Ethereum Bridge, draining roughly $7.54 million in digital assets, including Ether and USDC. This attack used an identical entry path and bug class as a previous exploit on the same bridge in May 2026, which had resulted in an $11.58 million loss.

Security firm Blockaid detected both breaches as they unfolded and alerted the community to the recurring exploit on the VerusCoin Ethereum Bridge. The back-to-back incidents have reignited debate over the persistent weaknesses in cross-chain infrastructure that continues to underpin much of the DeFi ecosystem.