Alex Protocol program at Bitcoin Defiencealized Finance (Defi) was attacked, losing $ 8.3 million in user money. This is the second exploitation of the stack -based project in more than a year after a previous theft by the North North Korean group of North Korea.
Alex Protocol is a victim of the defect of the self -list
in X post On June 6, the development team behind the ALEX protocol announced the exploitation of the Defi project due to the weakness in the logic of verification of the self -list, that is, a security mechanism aimed at preventing unauthorized asset lists. Failure is that this security system can allow bad actors to provide harmful, unauthorized, or fake assets of Alexa Protocol, which can be exchanged for legitimate assets.
By slipping through the logic of self -definition, infiltrators were able to deplete many asset clusters with 8,403,867.57 chimneys (STX), at a value The total transfer of 8,373,27.13 dollars.
Alex Protocol announces the compensation plan
After this last cyber attack, the developers pledged to cover all the user’s losses using the Alex Lab Foundation. All compensation will be paid in USDC and based on the average value of exchange on the series of stolen assets at the time of exploitation between 10:00 UTC-14: 00 UTC on June 6, 2015.
By 23:59 World time on June 8, all the affected portfolios should have received a special notice on the series along with the claim form. Prosecutors are expected to fill the form that must include the title of a receipt wallet before the follow -up to apply before the deadline on June 10 by 23:59 UTC.
The Alex Protocol Management Team also states that all the affected portfolios should expect a full compensation within seven days after checking the submitted form. It should be noted that all the victims who have questions or those who fail to receive the email for notification before the specified deadline are advised to arrive via the email mentioned in the advertisement.
ALEX protocol on Bitcoin is designed using Stacks Blockchain. It is a famous Defi platform that provides a set of services, including lending, borrowing and trading. In addition, Alex supports bridges of the crossed chain, allowing users to transfer assets smoothly from other networks such as Ethereum and Bnb Smart Chain.
As mentioned earlier, the Defi project was suffer Previous exploitation in May 2024 when the Lazarus group withdrew $ 4.5 million through the platform bridge on the BNB Smart Chain network.
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