From Cointelegraph

June 7, 2025 08:21 AM:

Alex Protocol, a Bitcoin DeFi platform, was exploited on June 6, resulting in $8.3 million in losses. The breach was due to a vulnerability in the self-listing verification logic, allowing attackers to drain liquidity from asset pools. The platform lost 8.4 million Stacks tokens, 21.85 sBTC, 149,850 USDC and USDT, and 2.8 WBTC.

Alex Lab Foundation pledged to fully reimburse affected users using treasury reserves. Compensation will be issued in USDC tokens based on average exchange rates. Affected wallets will receive a claim form by June 8, with payments distributed within seven days. A post-mortem report on the exploit is expected.

In May 2024, Alex Protocol suffered another hack involving its crosschain bridge infrastructure, resulting in the unauthorized withdrawal of $4.3 million. The incident was linked to the North Korean cybercrime group Lazarus. The team worked with a blockchain analyst to trace the stolen assets. China to ban owning Bitcoin? Gate.io to pay $30M over liquidations: Asia Express.

Read more at Cointelegraph: Alex Protocol to Reimburse Users After $8.3M Exploit on Bitcoin DeFi Platform