The Bitcoin decentralized finance (DeFi) platform Alex Protocol was attacked on the Stacks blockchain, resulting in a loss of approximately $8.3 million in digital assets.
According to a statement from Alex Protocol on the X platform, the incident was due to a vulnerability in the self-service list verification logic. The attacker exploited this vulnerability to extract liquidity from multiple asset pools.
The attacker stole approximately 8.4 million Stacks (STX), 21.85 Stacks Bitcoin (sBTC), 149,850 USDC (USDC), USDT (USDT), and 2.8 Wrapped Bitcoin (WBTC).
In response to this incident, the Alex Lab Foundation, which supports the protocol, has pledged to fully compensate affected users using its reserve funds.
Alex Lab stated that compensation will be issued in the form of USDC tokens. The protocol will calculate the compensation based on the average on-chain exchange rate between 10:00 and 14:00 on the day of the attack. Affected wallets will receive on-chain notifications and personal claim forms by June 8, and users must submit the completed forms and receiving wallet addresses by June 10.
Users who have not received the form are advised to contact the team via email. The team has not publicly disclosed the technical details of the attack, but a detailed investigation report is expected to be released.
This is another significant attack incident for Alex Protocol, which previously suffered a loss of $4.3 million in May 2024 due to a vulnerability in its cross-chain bridge infrastructure. This attack is reportedly linked to the North Korean cybercrime organization Lazarus.
