Two unrelated bridge exploits hit AFX Trade and Verus Protocol within seven hours, draining approximately $24 million and $7.5 million respectively through compromised bridge infrastructure on Arbitrum and other chains.
Decentralized derivatives protocol AFX Trade on Arbitrum suffered a $24.15 million USDC loss on July 22 after an attacker compromised its cross-chain bridge validator signing keys. The stolen funds were converted to approximately 12,467 ETH on Ethereum.
Ring Protocol has integrated Orbs-powered infrastructure to support decentralized limit and TWAP orders across Ethereum, Base, Arbitrum, and BNB Chain, bringing advanced trading features typically found on centralized exchanges to decentralized platforms.
Robinhood Markets launched Robinhood Chain, an Ethereum layer-2 blockchain built on Arbitrum technology for tokenized stocks and real-world assets. The network processed $3.1-4 billion in DEX volume in its first week, driven by memecoin trading and gas subsidies, with Uniswap collecting $4.38 million in daily fees from the platform.
Arbitrum announced that all Layer 2 chains built with its technology that settle outside of Arbitrum One or Nova will pay 10% of net protocol revenue to the Arbitrum ecosystem. Robinhood Chain, which has seen $568M in trading volume, is among the chains affected by this new revenue-sharing arrangement.
The Arbitrum Security Council froze $71 million worth of ETH stolen in the $292 million Kelp DAO exploit, with funds only movable through further governance action. Kelp DAO and LayerZero continue to dispute responsibility for the bridge vulnerability.
