Bitcoin DeFi platform Alex Protocol loses $8.3M to exploit

Alex Lab Foundation said it will fully reimburse users affected by the $8.3 million exploit, with compensation issued in USDC following a structured claims process.

Alex Protocol, a Bitcoin decentralized finance (DeFi) platform on the Stacks blockchain, suffered an exploit on June 6, resulting in $8.3 million in digital asset losses.  

In an X announcement, Alex Protocol said the breach was caused by a vulnerability in its self-listing verification logic. The attacker used the flaw to drain liquidity from several asset pools. 

The Bitcoin DeFi platform said the attackers siphoned about 8.4 million Stacks (STX) tokens, 21.85 Stacks Bitcoin (sBTC), 149,850 in USDC (USDC) and USDt (USDT), and 2.8 Wrapped Bitcoin (WBTC). The incident is one of the largest exploits in the Stacks ecosystem to date.

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