According to the most recent announcement from Alex Protocol, it is ready to provide financial support to the users affected through a combination of original tokens, USDC equivalent, based on the type of assets lost.
The X post dated June 08, 2025, said that, “ Following the security exploit on June 6, 2025, ALEX Lab has launched a comprehensive Treasury Grant Program to provide financial support to users who lost funds in the incident. ALEX remains committed to supporting its community and helping users recover during this challenging time.”
The affected users can participate in the program through the official ALEX website, where they can connect affected wallets to grant smart contracts.
In the same post, ALEX protocol also said that, “ The Treasury Grant Program affirms ALEX Lab’s responsibility to its users and its ongoing efforts to ensure protocol recovery and resilience. Users are encouraged to carefully review all terms and consider seeking independent legal or financial advice before participating.”
A quick brief of the ALEX Protocol breach
As per the available information, ALEX Protocol, a Bitcoin DeFi platform, was breached for $8.37 million. It is said that hackers found a flaw in ALEX’s self-listing verification logic.
The bad actors exploited an on-chain limitation, bypassing checks to drain approximately $8.4 million STX tokens and other assets from the liquidity pool.
Soon after the identification of the breach, ALEX suspended its operations and joined hands with cyber experts to track the stolen funds.
It is worth noting that the hackers reportedly used thousands of on-chain addresses to disperse the funds, with some STX tracked to centralized exchanges.
The severe incident has raised concerns over the security of funds and users of the DeFi ecosystem.
Are DeFi scams and hacks growing in 2025?
A few research reports suggest that scams and hacks in DeFi are growing, and as of 2025, to date, total losses have crossed $2.3 billion. Ethena Finance alone reported a loss of $70.1 million while SolBridge, built on the Solana blockchain, saw an outflow of over $55 million.
In June this year, the decentralized finance ecosystem witnessed one of the largest security breaches with hackers siphoning $183 million from four major DeFi protocols, the attack primarily affected Ethena Finance, SolBridge, ZyberSwap, and LayerZero.
Following the growing hacks and scams in 2025 has sparked debates over the lack of laws and rules for the digital asset sector. Every year, the crypto market loses billions in crypto in hacks, scams, and breaches.
Crypto market price updates
When writing, the crypto market cap was $3.29 trillion with a slight decline of 0.12%, and the trading volume is below $100 billion at $91 billion; the crypto fear and greed index was at 55, indicating neutrality.
Bitcoin is currently priced at $105,981 with a slight surge of 0.51%, and Ethereum is currently trading at $2,459; Solana is trading at $150.91, with BNB at $650.52.
According to the data from CoinMarketCap, the intraday gainers have been topped by Kaia, followed by AB, Internet Protocol, Fartcoin, SPX6900, Raydium, and Bittensor.
