Arc bridge exploit allows anonymous owner to sweep $490K USDC from unverified vault.
Security & Exploits ·
An exploit of an unofficial Arc bridge enabled an anonymous owner to withdraw $490K in USDC from an unverified vault. The incident highlights security risks in bridge infrastructure separate from Circle's official Arc chain, which is a stablecoin-native layer-1 blockchain designed around USDC as native gas and backed by a $222 million ARC token raise.