tl;dr
A DeFi protocol identified an attacker and froze stolen funds on major exchanges after over $67 million in cryptocurrency was lost to hacks and exploits in February. A Bitcoin DeFi application, ALEX Lab, was drained of over $4.3 million in various tokens due to a suspected private key compromise. Th...
A DeFi protocol identified an attacker and froze stolen funds on major exchanges after over $67 million in cryptocurrency was lost to hacks and exploits in February.
A Bitcoin DeFi application, ALEX Lab, was drained of over $4.3 million in various tokens due to a suspected private key compromise. The hacker transferred bitcoin, stablecoins, and tokens. ALEX Lab offered a bounty for the return of most of the stolen funds and confirmed the identity of the attacker. Funds associated with the hacker have been frozen by major exchanges to prevent further misuse.
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Bitcoin DeFi application ALEX Lab was drained of over $4.3 million in various tokens early Wednesday after a suspected private key compromise attacked its bridging service. The hacker transferred over $300,000 worth of bitcoin (BTC), $3.3 million worth of stablecoins, and $75,000 worth of Sugar Kingdom (SKO) tokens. ALEX developers confirmed the hack in an X post in early European hours, claiming they knew the identity of the attacker. The team offered them a 10% bounty for the return of 90% of the stolen funds. Funds associated with the hacker have been frozen by major exchanges to prevent further misuse, the team said.
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