Cryptocurrency23 Jul 2026SEO 801 min read

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

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…

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. AFX Trade, a decentralized perpetuals exchange on Arbitrum that settles in USDC, was drained of about $24.15 million after an attacker compromised validator signing keys for a bridge the protocol operates. Arbitrum’s native bridge was not breached, and security firm Blockaid said the on-chain logic functioned as designed, with…

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