AFX Trade, a perpetuals decentralized exchange built on Arbitrum, has suffered a $24 million exploit that targeted a custody bridge the platform operates rather than the underlying Arbitrum network. According to reports, the attacker quickly moved the stolen assets to Ethereum, a common tactic to complicate tracing and recovery efforts.
The Arbitrum-based platform AFX Trade suffered a $24 million loss after an attacker gained control of enough hot-validator signatures to authorize a fraudulent withdrawal, according to security firms. The exploit allowed the attacker to approve a 24.15 million USDC withdrawal, exploiting weaknesses in the platform's
Security firm Blockaid identified a bridge exploit targeting AFX Trade, a protocol operating on the Arbitrum network, resulting in losses of roughly $24 million. According to blockchain analytics provider PeckShield, the attacker moved the stolen assets from Arbitrum to Ethereum, then converted them into 12,467 ETH. Bridges, which allow
PIPE deals, or private investment in public equity, let companies raise capital by selling shares to select investors, and Zhibao Technology intends to receive its funding in cryptocurrency rather than cash. The Nasdaq-listed Chinese insurance-technology firm has proposed accepting 3,500 bitcoin as part of a $220 million
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US authorities have moved to seize $26.4 million across five separate cryptocurrency scam cases, part of a broader Department of Justice effort that has recovered roughly $800 million in fraud-linked assets. Court filings reveal an asset-first approach, in which prosecutors prioritize locating and restraining digital funds early