Within a span of a few hours on July 23, 2026, three decentralized finance platforms lost a combined $35.55 million. On-chain analytics account Lookonchain labeled the string of hacks targeting Bitcoin and Ethereum protocols as “Hacker Day.”
The heaviest loss hit AFX Trade, a trading platform operating on the Arbitrum network, which was breached for $24.15 million. Initial confirmations indicate the exploit did not originate from a smart contract flaw, but rather from compromised cross-chain bridge keys. This attack vector allowed the hacker to manipulate asset transfers.
After gaining control of the bridge keys, the exploiter bridged 24.15 million in user-owned USDC to the Ethereum network. Rather than holding the stolen funds in stablecoins, the attacker immediately bought 12,467 ETH on the open market at an average price of $1,937 per coin.
Spree of Attacks on Verus and B² Network
The day’s wave of exploits also spread to the Verus Ethereum Bridge, which suffered a $7.55 million loss. For the Verus community, the incident heightened security concerns as it marked the platform’s second breach following a previous exploit in May 2026.
Almost simultaneously, B² Network discovered its system had been exploited for $3.86 million. The attacker stole 8.59 million B2 tokens from the platform and dumped them on the market for 5,409 BNB, worth approximately $3.01 million.
The B² Network attacker then moved to obscure the transaction trail by bridging all the assets to the Ethereum network and depositing them into NEAR Intents and HOT Protocol.
The Risks of Parking Capital in Bridges
The wave of exploits was highlighted by CoinDesk as a simultaneous blow to multiple protocols across the Bitcoin and Ethereum ecosystems. The loss of over $35 million in user funds in just a few hours underscores one of the industry’s biggest vulnerabilities.
For liquidity providers and everyday users alike, the incident highlights a harsh reality: no matter how well a smart contract is audited, a system can still be compromised if key infrastructure security is weak. Moving and parking capital across cross-chain bridge facilities remains one of the most perilous maneuvers in crypto today.
Reported by @lookonchain on X.
Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
