Security Flaw Costs Bitcoin DeFi Project $8.3M

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A critical vulnerability in Alex Protocol‘s self-listing verification logic led to one of the largest exploits in Stacks ecosystem history.

The June 6 attack resulted in the loss of multiple high-value assets totaling $8.3 million from the Bitcoin-based DeFi platform.

Technical Breakdown:
• Exploit vector: Self-listing verification flaw
• Assets drained: STX, sBTC, stablecoins, WBTC
• Total value: $8.3M at time of attack

The Alex Lab Foundation has initiated a comprehensive reimbursement plan using treasury funds, with USDC payments to be distributed within seven days of verified claims.