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Bitcoin and Ethereum-linked protocols suffered a significant security breach, resulting in the loss of $35 million. The incidents involved AFX Trade on Arbitrum and the Verus Ethereum bridge, both critical components of cross-chain infrastructure. AFX Trade experienced a loss.
AFX, a decentralized perpetual exchange operating on Arbitrum, reportedly lost $24.15 million on Wednesday, while the Verus Ethereum bridge was attacked hours later. [Update 7:20 am UTC, July 23: Adds comments from Blockaid CEO Ido Ben Natan starting in the eighth paragraph.].
A compromised oracle signer key, not a bridge vulnerability, allowed an attacker to drain roughly $24 million USDC from Ostium's liquidity vault on Arbitrum. A brief panic rippled through the Arbitrum ecosystem on July 15 when on-chain watchers flagged a suspicious $24 million.
Ostium, an Arbitrum-based platform specializing in perpetuals, is set to resume operations on July 23 following a significant security breach. The platform had paused its services after a $23.8 million exploit impacted its liquidity-provider vault on July 15. Ostium has assured.
Matt Hougan said the convergence of traditional and onchain finance could favor crypto applications with real revenue and established companies building on blockchain rails. Bitwise Chief Investment Officer Matt Hougan said Hyperliquid and Robinhood could emerge as leading.
The brokerage's Ethereum Layer-2 network is posting numbers that rival established chains just weeks after launch Robinhood’s blockchain is growing at a pace that would make most Layer-2 networks deeply jealous. Just weeks after its public mainnet went live on July 1, Robinhood.
The Robinhood-built Ethereum Layer 2 hit 245,000 daily active users and $9 billion in cumulative DEX volume, outpacing Coinbase's established chain on key metrics. Robinhood didn’t just enter the Layer 2 race. It kicked down the door. According to data from Artemis, Robinhood.
