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Hack on Bitcoin DeFi protocol Alex Lab has reportedly spilled into traditional finance, with\u00a0ChainCatcher<\/a>\u00a0saying customers of Shanghai Pudong Development Bank, or SPD Bank, were among those affected in the latest incident.<\/p>\n A recent security incident at Bitcoin DeFi protocol Alex Lab has spilled over into the traditional banking system, with Chinese outlet\u00a0ChainCatcher<\/a>\u00a0reporting that customers of Shanghai Pudong Development Bank (SPD Bank) were among those affected by the latest exploit.<\/a><\/p>\n According to\u00a0Unchained<\/a>, Alex Lab, built on the Stacks (STX) network, \u201csuffered a major security breach on June 6, resulting in the loss of around $8.3 million of digital assets,\u201d including 8.4 million STX, 21.85 sBTC and several hundred thousand dollars worth of USDT, USDC and wBTC, all valued in the low eight figures in $ terms at the time.<\/a><\/p>\n In that earlier case, the protocol said it would \u201cfully reimburse affected users,\u201d stressing that it would cover the losses from its own treasury while working with law enforcement and exchanges to track funds.<\/a><\/p>\n The June 2025 exploit was not Alex Lab\u2019s first serious incident.<\/p>\n Security firm\u00a0Halborn<\/a>\u00a0noted that \u201cthe Alex Lab hack involved $8.3M in losses and was caused by the inability to identify failed transactions on the Stacks blockchain,\u201d highlighting a basic but critical flaw in the protocol\u2019s self-listing verification logic.<\/p>\n <\/p>\n Earlier, a 2024 attack on Alex\u2019s cross-chain bridge \u2014 known as XLink \u2014 drained more than $4 million, with investigators later tying the operation to North Korea\u2019s Lazarus Group, according to a detailed incident report cited by\u00a0Coinfomania<\/a>.<\/a><\/p>\n A joint sanctions-evasion dossier published by Japan\u2019s Ministry of Foreign Affairs lists both \u201cAlex Lab (based in Singapore)\u201d and major Chinese commercial lenders, including \u201cShanghai Pudong Development Bank,\u201d as among entities targeted or compromised by DPRK-linked advanced persistent threat (APT) clusters such as Kimsuky and TraderTraitor.<\/a><\/p>\n\n
Alex Lab\u2019s serial breaches and DPRK links<\/h2>\n