{"id":2472,"date":"2025-06-09T07:27:05","date_gmt":"2025-06-09T07:27:05","guid":{"rendered":"https:\/\/bitunikey.com\/news\/alex-protocol-announces-reimbursement-plan-for-users-hit-by-8m-exploit\/"},"modified":"2025-06-09T07:27:06","modified_gmt":"2025-06-09T07:27:06","slug":"alex-protocol-announces-reimbursement-plan-for-users-hit-by-8m-exploit","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/alex-protocol-announces-reimbursement-plan-for-users-hit-by-8m-exploit\/","title":{"rendered":"Alex Protocol announces reimbursement plan for users hit by $8m exploit"},"content":{"rendered":"<p><\/p>\n<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">Bitcoin-focused decentralized finance platform Alex Protocol has launched a Treasury Grant Program to reimburse users affected by a recent exploit that resulted in over $8 million in losses.<\/p>\n<p>According to a June 8 <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/x.com\/ALEXLabBTC\/status\/1931704630154568041\" target=\"_blank\">announcement<\/a>, the program will provide financial support through a combination of original tokens and USDC equivalents, depending on the type of asset lost.<\/p>\n<p>Affected users must connect their impacted wallet to the official grant interface, review their specific compensation offer, and sign a confirmation message to accept the terms and conditions.<\/p>\n<p>Alex Protocol was exploited on June 6, targeting several liquidity pools on the platform. Alex Protocol confirmed that the attacker exploited a vulnerability in its self-listing verification logic, allowing them to drain approximately 8.4 million STX, 21.85 sBTC, 149,850 aUSD, and 2.8 aBTC, resulting in total losses exceeding $8.3 million.\u00a0<\/p>\n<p>Alex Lab has not yet published a technical post-mortem report, but one community member speculates that the issue may stem from a \u201cStacks limitation.\u201d<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">I was wrong with my initial assessment of this hack \u2013 I didn&#8217;t understand fully how ALEX contract was meant to work.<\/p>\n<p>But now I can confirm it was Stacks limitation that theoretically can be mitigated, but in practice I don&#8217;t think it is feasible.<\/p>\n<p>\u2014 _ (@LNow_) <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/twitter.com\/LNow_\/status\/1931063047411703896?ref_src=twsrc%5Etfw\" target=\"_blank\">June 6, 2025<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n<p>According to an earlier update, payout amounts are based on average onchain prices observed from 10:00 am to 2:00 pm UTC during the incident. Notifications and claim instructions were sent to affected addresses by June 8.<\/p>\n<p>The reimbursement structure includes full USDC compensation for STX holdings at a fixed exchange rate of 0.68 USDC per STX.\u00a0<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<p>Users who lost sBTC will receive 100% reimbursement in aBTC, while aBTC holders will get 75% of their losses in aBTC and the remaining 25% in USDC, calculated at a rate of 102,734 USDC per aBTC. For aUSD losses, 91% will be returned in aUSD, and 9% will be returned in USDC at parity.<\/p>\n<p>Support payments will be distributed to eligible Ethereum addresses by June 17. Users must accept the grants by a deadline that will be communicated via official channels.<\/p>\n<p>This is the second major exploit targeting Alex Protocol. Last year, the platform suffered a $4.3 million breach linked to its cross-chain bridge infrastructure. At the time, developers suspected the involvement of the North Korean hacker group Lazarus.<\/p>\n<p>ALEX Lab initially offered a 10% bounty for the return of 90% of the assets, but the offer was later withdrawn without explanation.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin-focused decentralized finance platform Alex Protocol has launched a Treasury Grant Program to reimburse users affected by a recent exploit that resulted in over $8 million in losses. According to&hellip;<\/p>\n","protected":false},"author":1,"featured_media":2473,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2472","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/2472","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=2472"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/2472\/revisions"}],"predecessor-version":[{"id":2474,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/2472\/revisions\/2474"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/2473"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=2472"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=2472"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=2472"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}