AFX Trade loses $24M in USDC after bridge validator keys compromised

·1 views

Arbitrum-based trading platform AFX Trade suffered a security breach resulting in the loss of approximately $24.15 million in USDC. According to security firms, the attacker obtained a sufficient number of hot-validator signatures to authorize a large unauthorized withdrawal. The exploit targeted AFX Trade's own bridge infrastructure rather than Arbitrum's native bridge. Arbitrum clarified that its core bridging system was not involved in or affected by the incident.

Read the full story at CoinDesk

This is an AI-generated summary. ShortSingh links to the original source for the complete article.

Discussion (0)

XRP Whales Buy Up 2.8% More Tokens as Small Investors Sell Off

Large XRP holders, commonly known as whales, have accumulated 2.8% more tokens over the past five weeks. This buying activity coincided with smaller retail investors selling off their holdings, a behavior referred to as capitulation. The divergence in behavior between large and small holders has drawn attention in the crypto market. Following this accumulation trend, XRP's price recovered and climbed back above the $1.16 mark.

0 comments Read more at CoinDesk

Crypto & Web3CoinDesk ·

Bitcoin Slides as Oil Prices, Rising Rates, and Regulatory Uncertainty Weigh on Crypto

Bitcoin and broader crypto markets declined as a combination of geopolitical risks, rising oil prices, and climbing interest rates dampened investor sentiment. Regulatory headwinds added further pressure, with the odds of the Clarity Act passing dropping sharply to 38%. Key Democratic lawmakers are pushing back on the proposed market structure bill, demanding stronger investor safeguards before lending their support. The legislative uncertainty has unsettled crypto markets that had been anticipating clearer regulatory frameworks. The confluence of macroeconomic and political pressures signals a challenging near-term environment for digital assets.

0 comments Read more at CoinDesk

Crypto & Web3CoinDesk ·

Senator Lummis Says Ethics Provisions in Crypto Clarity Act Still Under Discussion

Senator Cynthia Lummis, a key negotiator on the crypto Clarity Act, expressed satisfaction that an updated version of the bill has been released. The Wyoming Republican indicated that certain provisions, including ethics-related clauses, remain subjects of ongoing discussion. Lummis shared her remarks in a conversation with CoinDesk. The development signals continued legislative momentum around the bill, though some details have yet to be finalized.

0 comments Read more at CoinDesk

Crypto & Web3CoinDesk ·

Democratic lawmakers raise ethics concerns over Republican crypto market structure bill

Several key Democratic lawmakers have expressed reservations about a newly released Republican draft of a crypto market structure bill. The legislators, considered among the most likely Democrats to support such legislation, said the proposal falls short on ethics and other issues. Their concerns emerged shortly after Republicans published the updated draft. The pushback from potential Democratic allies could complicate efforts to build the bipartisan support needed to advance the bill.

0 comments Read more at CoinDesk