AFX Trade Hacked for 24 Million Dollars

The decentralized exchange AFX Trade suffered a significant security breach that resulted in the theft of 24 million dollars. The attack specifically targeted a custody bridge used by the platform, rather than the Arbitrum network itself. Once the funds were taken, the perpetrator moved the assets to the Ethereum blockchain.

In response to the incident, the team behind AFX Trade is attempting to negotiate with the attacker. They have publicly offered the hacker a 30 percent bounty if the remaining funds are returned. This approach is often used in the crypto space to recover stolen assets without involving lengthy legal battles.

Traders should stay cautious while the team works to resolve the situation and secure their infrastructure. This event serves as a reminder of the risks involved in interacting with cross chain bridges and decentralized platforms. We will continue to monitor the situation as the platform attempts to regain control of the stolen capital.