AFX Trade Loses $24 Million in Arbitrum Bridge Hack After Key Compromise

AFX Trade, a decentralized exchange built on the Arbitrum network, has suffered a devastating security breach, losing approximately $24 million in digital assets. The exploit occurred after attackers compromised the platform's bridge keys, allowing them to drain funds from cross-chain transactions. This incident highlights critical vulnerabilities in bridge security within the DeFi ecosystem. The stolen assets include various cryptocurrencies, with the AFX token experiencing a sharp decline in value. Users are advised to revoke approvals and avoid interacting with the platform until further notice. The team is working with security firms to trace the funds and identify the perpetrators.