Shocking! Stacks' top Bitcoin DeFi platform ALEX suffers a massive attack of $8.37 million, with the official bold promise of full compensation!

On June 6, 2025, ALEX, a heavyweight DeFi project within the Stacks ecosystem, was suddenly attacked due to a lethal vulnerability. Hackers exploited a coin listing verification loophole to frantically steal assets, resulting in losses of up to $8.37 million! Affected assets include 8.4 million STX, 21.85 sBTC, and various mainstream stablecoins, shaking the crypto community.

The vulnerability originated from restrictions on the Stacks chain, and the attacker cleverly bypassed the rules to carry out the attack, exposing security risks in the industry. However, ALEX responded quickly and launched a full compensation plan with significant funding! The official promise is to compensate all affected users in USDC using funds from the ALEX Lab foundation, with compensation based on the fair market price on the day of the incident, ensuring fairness and transparency.

The compensation process has been swiftly initiated: users will receive on-chain privacy notifications and claim links by June 8, confirmation of wallet addresses will close on June 10, and compensation payments will be available within seven working days! Although this storm severely impacted the project, ALEX's efficient response showcases its strength and wins back user trust.

This incident serves as a wake-up call for industry security and stands as a benchmark for ALEX's willingness to take responsibility. Investors need to remain vigilant while maintaining confidence, looking forward to the project’s rebirth and the arrival of a new wave of development!