#defi #STX

🚨 Bitcoin DeFi Platform Alex Protocol Hit by $8.3M Exploit on Stacks Blockchain 😱

On June 6, Alex Protocol, a Bitcoin DeFi platform on Stacks, lost $8.3M due to a vulnerability in its self-listing verification logic. Hackers drained 8.4M $STX , 21.85 sBTC, 149,850 USDC/USDT, & 2.8 WBTC—one of the biggest exploits in Stacks history! 💸

Alex Lab Foundation vows to fully reimburse affected users using treasury reserves, with USDC payouts based on June 6 exchange rates. Impacted wallets will receive claim forms by June 8, with a June 10 deadline. Payments expected within 7 days. 📩

This follows a $4.3M hack in May 2024, likely tied to North Korea's Lazarus group. A post-mortem report is coming. Stay safe out there! 🔒