ALEX Suffers Malicious Attack, Loss Exceeds $8.37 Million, Vows Full Compensation

BlockBeats News, June 7th, the Stacks-based DeFi protocol ALEX announced that it suffered an attack due to a smart contract validation logic flaw upon listing, allowing the attacker to drain funds from multiple asset pools, resulting in a total loss of approximately $8.37 million. The specific breakdown of the losses is as follows:

STX loss of 8.4 million STX (approximately $5.69 million), sBTC loss of 21.85 sBTC (approximately $2.24 million), USDC/USDT loss of 149,850 (approximately $14,980), WBTC/BTC loss of 2.80 WBTC (approximately $28,740).

The ALEX Lab Foundation will use the treasury to fully compensate the losses of each affected user, with the compensation to be paid in USDC. The compensation calculation will be based on the on-chain exchange rate average between 18:00 and 22:00 on June 6, 2025. Affected wallet addresses will receive private notifications by 7:59 on June 9, 2025, containing a claims form. The claims form must be submitted by 7:59 UTC on June 11, 2025, to confirm the receiving wallet address. Once confirmed, the compensation in USDC will be sent within 7 working days.