Arbitrum Protocol AFX Trade Hit By $24 Million Exploit

Security firms spotted a major security breach affecting the Arbitrum protocol AFX Trade. Attackers targeted the bridge and drained roughly twenty four million dollars in crypto assets during the incident.

On chain sleuths at PeckShield reported that the hacker quickly moved the stolen funds. The attacker bridged the assets over to the Ethereum network and swapped them for 12,467 ETH.

This event highlights ongoing security risks within cross chain bridges. Traders and users should stay cautious and monitor the protocol updates as the team investigates the exploit.