The wallet tied to the AFX Trade exploit has started rotating funds again, this time moving from ETH into BTC through THORChain, according to monitoring by EmberCN. The latest activity follows the July 23 hack of AFX Trade’s bridge, in which 24.15 million USDC was stolen. Those funds were later converted into 12,467.4 ETH. EmberCN said the attacker began using THORChain about an hour before the update to cross-chain swap ETH for BTC. So far, 655.4 ETH has been exchanged for 18.86 BTC. The sequence outlined in the monitoring update shows a clear shift in the composition of the stolen assets, from USDC to ETH and now partly into BTC.

AFX Trade, Verus Bridge, and B² Network previously lost a combined $35.56 million in separate attacks, and the latest update says the attacker has moved the stolen funds across chains into a mixer. Some of the assets have already been recovered. Verus Bridge and other affected protocols have suspended interaction functions while project teams work with security firms to trace the funds. A security analysis report has also been issued. In Verus Bridge’s case, the protocol was hit twice in three months through the same vulnerability. The team said it will restore services as soon as possible and compensate affected users.

AFX Trade, a perpetuals exchange on Arbitrum, was hacked on July 23, with about $24 million in USDC stolen. According to Techub, citing Decrypt, the attacker exploited a vulnerability in the project’s USDC custodial bridge and drained the funds. After detecting unusual activity, the team suspended bridge services immediately. AFX Trade said it has activated its incident response process, and its security team is investigating the root cause of the breach. The protocol also offered the attacker 30% of the stolen funds as a white hat bounty in exchange for returning the remaining amount. Services related to the protocol remain suspended at the time of writing. The report did not disclose additional technical details about the exploit or say when services might be restored. The case adds to the list of bridge-related security incidents affecting crypto platforms.

A cluster of crypto protocol attacks unfolded within hours on July 23, affecting four projects tied to the Bitcoin and Ethereum ecosystems and resulting in combined losses of more than $35 million, according to CoinDesk. The biggest loss came from AFX Trade, a derivatives protocol on Arbitrum, where BlockAid said attackers obtained the private key for the project’s cross-chain bridge and moved roughly $24 million in assets. Verus, an Ethereum cross-chain bridge protocol, lost about $7.54 million after what BlockAid described as a logic flaw in its bridge import path was exploited again. The stolen assets included ETH, tBTC, USDC, USDT, EURC, MKR and scrvUSD. On the Bitcoin side, B² Network lost around $3.86 million after the attacker gained upgrade authority over its token staking contract, according to Lookonchain, while Balance lost about $1 million after its bitcoin vault was drained, triggering a roughly 99% collapse in the price of its stablecoin. BlockAid, PeckShield and Lookonchain tracked the related fund flows. B² Network said it had suspended staking and would fully compensate affected users.

Three separate hacking incidents were recorded on July 23, with combined losses of about $35.55 million, according to monitoring data cited by BlockBeats from Lookonchain. The largest loss came from AFX Trade, which was reported to have lost about $24.15 million. VerusCoin’s Ethereum bridge was the second-largest incident, with losses of about $7.55 million. B² Network was also hit, with losses of about $3.86 million. The figures reflect the total impact from the three incidents tracked on the day in question. No additional details on the attack methods or recovery status were provided in the source update.