Arbitrum-based AFX Trade drained of $24 million after bridge keys compromised

CoinDesk·

Arbitrum-based AFX Trade drained of $24 million after bridge keys compromised

60-second summary

Arbitrum-based AFX Trade is being drained of $24 million after bridge keys were compromised, allowing an attacker to use hot-validator signatures and approve a 24.15 million USDC withdrawal. Security firms are investigating the breach, while Arbitrum assures its native bridge was unaffected. The incident highlights the ongoing risk of vulnerabilities in DeFi bridges.

Security firms said the attacker used enough hot-validator signatures to approve a 24.15 million USDC withdrawal, while Arbitrum said its native bridge was not affected.