The privacy vulnerabilities of the federated learning (FL) paradigm, primarily caused by gradient leakage, have prompted the development of various defensive measures. Nonetheless, these solutions have predominantly been crafted for and assessed in the context of synchronous FL systems, with minimal focus on asynchronous FL. This gap arises in part due to the unique challenges posed by the asynchronous setting, such as the lack of coordinated updates, increased variability in client participation, and the potential for more severe privacy risks. These concerns have stymied the adoption of asynchronous FL. In this work, we first demonstrate the privacy vulnerabilities of asynchronous FL through a novel data reconstruction attack that exploits gradient updates to recover sensitive client data. To address these vulnerabilities, we propose a privacy-preserving framework that combines a gradient obfuscation mechanism with Trusted Execution Environments (TEEs) for secure asynchronous FL aggregation at the network edge. To overcome the limitations of conventional enclave attestation, we introduce a novel data-centric attestation mechanism based on Multi-Authority Attribute-Based Encryption. This mechanism enables clients to implicitly verify TEE-based aggregation services, effectively handle on-demand client participation, and scale seamlessly with an increasing number of asynchronous connections. Our gradient obfuscation mechanism reduces the structural similarity index of data reconstruction by 85% and increases reconstruction error by 400%, while our framework improves attestation efficiency by lowering average latency by up to 1500% compared to RA-TLS, without additional overhead.