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Alex Protocol to Reimburse Users After $8.3M Exploit on Bitcoin DeFi Platform

June 7, 2025Updated:June 7, 2025No Comments2 Mins Read
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Alex Protocol to Reimburse Users After .3M Exploit on Bitcoin DeFi Platform
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Alex Protocol to Reimburse Users After $8.3M Exploit on Bitcoin DeFi Platform

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

In an X announcement, Alex Protocol stated the breach was attributable to a vulnerability in its self-listing verification logic. The attacker used the flaw to empty liquidity from a number of asset swimming pools. 

The Bitcoin DeFi platform stated the attackers siphoned about 8.4 million Stacks (STX) tokens, 21.85 Stacks Bitcoin (sBTC), 149,850 in USDC (USDC) and USDt (USDT), and a pair of.8 Wrapped Bitcoin (WBTC). The incident is likely one of the largest exploits within the Stacks ecosystem to this point.

In response to the incident, Alex Lab Basis, the group supporting the protocol, pledged to totally reimburse affected customers utilizing its treasury reserves. 

Cointelegraph reached out to Alex Protocol by its X account however didn’t obtain a response by the point of publication.