AFX Protocol Hit by $24M Bridge Exploit — Here's What Happened and Why Bridge Hacks Keep Happening
20h ago · 1 source
AFX Protocol has reportedly suffered a $24 million exploit targeting its cross-chain bridge infrastructure. The attack adds to a long and costly history of bridge vulnerabilities in decentralized finance, raising renewed concerns about the security of cross-chain asset transfers.
WHY IT MATTERS
Think of a cross-chain bridge like a currency exchange booth at an airport — you hand over dollars on one side and get euros on the other. In crypto, bridges let you move tokens between different blockchains. The problem is that these 'exchange booths' hold huge amounts of money in their vaults, making them prime targets for hackers. When a bridge gets exploited, the attacker essentially tricks the system into releasing funds it shouldn't. This $24 million loss is a reminder that moving crypto between blockchains still carries significant risk, and users should be cautious about how much money they trust to bridge protocols — especially newer or less battle-tested ones.
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Educational only — not financial advice.