The decentralized Bitcoin (DEFI) decentralized financing platform Alex Protocol recently underwent an attack, losing $ 8.3 million in user funds. This represents the second feat of the battery-based project in just over a year after a previous breakage by the famous North Korean group Lazarus of North Korea.
The Alex Protocol is the victim of a self-isolated verification defect
In a post X on June 6, the development team behind the Alex protocol announced that the DEFI project experienced a feat due to a vulnerability in its self-isolated verification logic, that is to say a security mechanism intended to prevent unauthorized asset lists. A failure is that this security system could potentially allow bad players to introduce malicious, unauthorized or false assets to the Alex protocol which can be exchanged for legitimate assets.
By Slipping Past the Self-Verification Logic, Hackers Were Able to Drain Several Asset Pools Making Away with 8,403,867.57 Stacks (STX), Valued at $ 5.691.255.93, 21.85 SBTC ($ 2,244.751.87), 149,850) USDC/USDT ($ 149,850), and 2.80 WBTC ($ 287,369.33) leading to a total transport of $ 8,373,27.13.
The Alex protocol announces a remuneration plan
After this recent cyber attack, the developers behind the Alex protocol undertook to cover all user losses using the Treasury of the Alex Lab Foundation. All the remuneration will be paid in USDC and on the basis of the average chain exchange value of stolen assets at the time of the feat between 10:00 am UTC at 2:00 p.m. UTC on June 6, 2025.
At 11:59 p.m. UTC on June 8, all the affected portfolios should have received a private chain notification in parallel with a complaint form. The applicants should complete the form which should include a reception portfolio address before submitting before the deadline of June 10 at 11:59 p.m. UTC.
The Alex protocol management team also indicates that all affected portfolios should expect complete compensation within seven days of verification of the form submitted. It should be said that all victims with questions or those who do not receive the notification email before the specified deadline are invited to contact by the e-mail indicated in the advertisement.
The Alex protocol is built on the Bitcoin network using the Stack Blockchain. It is a popular DEFI platform offering a range of services, including loans, loans and trading. In addition, Alex supports transversal bridges, allowing users to transfer assets transparently from other networks such as Ethereum and BNB Smart Chain.
As indicated previously, the DEFI project had undergone a previous feat in May 2024 when the Lazare group withdrew $ 4.5 million via the Pont de la Platform on the BNB Smart Chain Network.
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