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AFX Protocol estimates $24.15 million loss from bridge attack

Arbitrum-based decentralized perpetual futures exchange AFX Protocol is estimated to have lost assets worth $24.15 million in a cross-chain bridge attack. Cointelegraph reported the incident occurred in a third-party protocol and did not affect the Arbitrum native bridge. Security firm Blockaid said it detected an attack targeting an AFX-operated bridge. Offchain Labs co-founder Steven Goldfeder also confirmed a third-party protocol was affected. The cause and any additional losses remain unconfirmed.

Crypto

Most new coins since 2024 fail to hold even TGE price, data show

More than 90 percent of crypto projects launched since 2024 with market capitalisations above $100 million have failed to regain their listing prices, data showed. CryptoRank found only 8 of 113 tokens released from 2024 to 2026 traded above their token generation event (TGE) prices, while the median return was -95.7 percent. Hyperliquid was a notable outlier. Separate research from Memento Research and Delphi Digital reported similar post-listing declines.

Crypto

Ethereum tests $1,950 for first time in seven weeks; what could drive a rebound to $2,100?

Ethereum tested the $1,950 level for the first time in seven weeks, extending a short-term rebound. The move triggered $62 million in liquidations of leveraged short positions, Cointelegraph reported. Ethereum rose 29 percent from its June 26 low of $1,500 as risk appetite improved across crypto markets. Still, on-chain demand, network revenue and volumes remain weak, while funding rates have not held neutral levels consistently.