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$24M Lost as AFX Trade Hit by Arbitrum Bridge Hack

Guavy AI Editorial Team
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A recent bridge hack on Arbitrum has left AFX Trade reeling after losing $24 million in USDC. The incident is raising concerns about DeFi security.

The loss was reported by Pluang, a financial application that provides easy and secure micro-investment products for Indonesians. According to the report, the hack occurred on Arbitrum, a popular layer-2 scaling solution for Ethereum.

AFX Trade is a financial services company licensed and supervised by the Financial Services Authority of Indonesia (OJK). The company offers various investment products, including crypto assets and digital financial asset derivatives.

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Disclaimer: Guavy is a data and market intelligence provider, not an investment advisor. The information, signals, and market analysis provided by the Guavy API and related services are for informational purposes only and are not intended as financial advice, investment recommendations, or an endorsement of any particular trading strategy. Trading in volatile markets, including cryptocurrency, carries significant risk and may not be suitable for all investors. Past performance is not indicative of future results. Users should consult with a qualified financial professional before making any investment decisions. Guavy makes no guarantee of trading profits or financial returns.

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