We summarize recent observations and modeling of the brightest Sgr A* flare to be observed simultaneously in (near)-infrared and X-rays to date. Trying to explain the spectral characteristics of this flare through inverse Compton mechanisms implies physical parameters that are unrealistic for Sgr A*. Instead, a cooling break synchrotron model provides a more feasible explanation for the X-ray emission. In a magnetic field of about 5-30 Gauss the X-ray emitting electrons cool very quickly on the typical dynamical timescale while the NIR-emitting electrons cool more slowly. This produces a spectral break in the model between NIR and X-ray wavelengths that can explain the differences in the observed spectral indices.
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