Arbitrum-based AFX Trade drained of $24 million after bridge keys compromised
CoinDesk 2026-07-23 05:01:06
Context: The AFX Trade, a platform based on Arbitrum, was drained of $24 million in a security breach. The attacker compromised the bridge keys, allowing them to carry out the theft. This incident has raised concerns about the security of cryptocurrency platforms.
Key Facts
- The attacker used a sufficient number of hot-validator signatures to approve a withdrawal of 24.15 million USDC from AFX Trade.
- The security breach was caused by the compromise of bridge keys, which are used to facilitate transactions between different blockchain networks.
- Arbitrum, the native blockchain platform on which AFX Trade is based, stated that its own native bridge was not affected by the security breach.