The DeFi platform Alex Protocol, operating on the Stacks blockchain, suffered a serious hacking attack, resulting in the loss of assets totaling $8.3 million.
This is reported by Business • Media
Vulnerability in Listing Led to Significant Losses
On June 6, 2025, a large-scale cyberattack occurred on Alex Protocol. The attackers exploited a vulnerability in the logic of self-listing assets, allowing them to completely withdraw funds from several liquidity pools. According to official reports, the amount of lost assets was approximately $8.3 million.
“Among the stolen assets are about 8.4 million STX, 2.8 wBTC, nearly $150,000 in stablecoins USDC and USDT, as well as over 21 Stacks Bitcoin. This is one of the largest incidents in the Stacks ecosystem, causing a stir in the crypto community.”
The attack was made possible due to errors in the asset listing verification process, which is part of the limitations on the Stacks blockchain. Thanks to this vulnerability, the attackers were able to quickly withdraw significant amounts from the protocol.
Alex Team Promises Compensation and Investigates the Incident
Representatives of the Alex Lab Foundation promised to fully compensate all losses to affected users from their own reserves. Payments will be made in USDC at the market rate on the day of the attack. Users whose addresses were compromised will receive personal messages and a form to submit claims by June 8. Completed applications must be submitted by June 10, 2025, after which payments are promised within a week of claim verification.
This incident marks the second major event for Alex Protocol in the past year. In May 2024, the platform also suffered a hacking attack, during which $4.3 million was withdrawn via a cross-chain bridge hack. Preliminary information suggests that the North Korean group Lazarus may have been involved in the incident.
In both cases, the Alex team is actively collaborating with analytical companies and preparing a detailed technical report analyzing the causes of the event. The crypto community is closely monitoring the situation, as such incidents affect trust in the DeFi market as a whole.
It is worth noting that in May 2025 alone, losses from hacking attacks on the crypto market reached $244 million.