ALEX, the Stacks-based decentralized finance (DeFi) protocol, suffered a loss of approximately $8.37 million due to a security breach. The attack was reportedly caused by a bug in the protocol’s token listing verification mechanism. Thanks to this vulnerability, the attacker was able to withdraw large amounts of cryptocurrencies from various asset pools. According to the official statement made by ALEX, the lost assets are listed as follows: 8,403,867 STX (approximately $5.69 million) 21.85 sBTC (approximately $2.24 million) 149,850 USDC/USDT 2.80 WBTC (approximately $287,000) The total loss was calculated at $8,373,227.13. Related News: Germany's Largest Bank Deutsche Bank Launches New Cryptocurrency Initiative ALEX Lab Foundation announced that it will fully compensate all victimized users following the loss. Payments will be made in USDC based on the on-chain average prices. Within the scope of the compensation process: A special on-chain notification will be sent to all affected wallets by 02:59 on June 9, 2025. Users must fill out the form and verify the wallet addresses they will receive payments from until June 11, 2025, 02:59. Once the applications are approved, payments will be sent to the relevant wallets within 7 business days. *This is not investment advice. Continue Reading: Yet Another Hack Attack: Significant Losses Reported for These Altcoins
