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ETH 
B2 The crypto market suffered a black day: Three hacking attacks in 24 hours, resulting in losses of more than US$35 million.
The cryptocurrency market has suffered successive cyber attacks in the past 24 hours, causing violent shocks. Security researchers have called the series of incidents "hacker days," with AFX Trade, BSquaredNetwork and Verus protocols targeted. The attackers stole more than $35 million in crypto-assets from these three different platforms. Among them, AFX Trade lost the most, with approximately US$24.15 million, while Verus was hacked for the second time in two months, attracting widespread attention.
AFX, BSquaredNetwork and Verus were attacked on the same day.
Blockchain security company PeckShieldAlert released a message saying that the first attack targeted the AFX Trade platform based on the Arbitrum network. After stealing approximately $24.15 million in USDC, the attackers transferred funds from Arbitrum to the Ethereum network, and subsequently exchanged the assets for 12,467.5 ETH.
About an hour later, the second attack occurred on the BSquaredNetwork. According to PeckShieldAlert, the attacker stole 8.59 million B2 tokens on BNB Chain and transferred approximately $3.86 million worth of assets from the platform. The stolen coins were quickly exchanged for more than 5000 WBNB and subsequently converted to 1128 ETH. The attacker ultimately transferred funds to different networks through NEAR intentions. The attack caused the B2 token price to drop by more than 15%.
The third attack targeted Verus, an Ethereum-based cross-chain bridge protocol. Blockchain analytics platform LookonChain reported that attackers stole approximately $7.55 million worth of crypto assets.
Verus was hacked again in two months
Verus has encountered similar security breaches before. About two months ago, the agreement lost $11.58 million in an attack. Security company Blockaid pointed out that the recent attack is highly similar to previous incidents. The company said the two attacks used the same cross-chain bridge contract, the same intrusion method and the same type of security vulnerability. These findings suggest that the two attacks may be technically related.
At the same time, Arbitrum developer Steven Goldfeder emphasized that the cross-chain bridge under attack was not part of Arbitrum's official bridge infrastructure. He said the bridge is completely independently operated by AFX.
Security audit sparks controversy
Chain security expert Taylor Monahan made interesting remarks after the AFX attack. She questioned why approximately $24 million in funds were deposited on the cross-chain bridge and said there were serious flaws in the recently released security audit report. According to Monahan, the scope of security testing for the protocol is very limited. Although auditors identified certain security issues, they have not been fixed. In addition, the audit team was unable to conduct a comprehensive review of the system due to lack of access to the complete source code.
Monahan believes that the problem is not just a single technical loophole. In her view, failure to give sufficient priority to security processes was an important reason for this attack.
Three attacks in the encryption space in the past 24 hours have once again sparked discussions about the security of cross-chain bridge protocols. Experts point out that in cross-chain infrastructure where high-value assets are held, audit processes and security testing urgently need to be more strictly enforced.
