AFX Trade's $24.15 Million Arbitrum Exploit: Hacker Offered 30% Bounty

A decentralized finance (DeFi) platform called AFX Trade has been exploited on the Arbitrum network, resulting in the loss of approximately $24.15 million in digital assets.

The attack targeted vulnerabilities within the protocol's smart contracts, allowing the attacker to drain funds from the platform.

AFX Trade initially offered a 30% white-hat bounty to the hacker, which would allow them to retain roughly $7.25 million if the remaining funds are safely returned.

The proposal is part of a growing trend among DeFi projects following major exploits, where protocols attempt to negotiate the return of funds by framing the incident as a white-hat security discovery.