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Stacks-based Alex Lab to reimburse users after $8.3 million exploit as token drops 45% theblock.co/post/357368/st…
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Stacks-based Alex Lab to reimburse users after $8.3 million exploit as token drops 45% theblock.co/post/357368/st…
Stacks-based DeFi protocol ALEX suffered an exploit due to a token listing validation bug, losing around $8.37M, including 8.4M STX, 21.85 sBTC, ~$150K in stablecoins, and 2.8 WBTC. ALEX Lab Foundation will fully compensate affected users in USDC, based on average on-chain rates from the evening of June 6. Payments will be made within 7 business days after confirmation. https://t.co/5v66N36vnY
Hey Stackers, we've been monitoring the ALEX situation and recommend taking a look at both Adriano (of Bitcoin L2 Labs) and ALEX's update for more information. Here are some key takeaways: 🔸 The exploit is at the application layer, not at the Stacks protocol level. 🔸 ALEX has announced they will reimburse everyone within 7 days. 🔸 Security experts and those with exchange relationships remain available and active in supporting the ALEX team as needed.
stacks / bitcoin dex @ALEXLabBTC surge 3 starts feb 25, one million in alex token rewards. alex dex contributor @DeFiPoet talks about the importance of communities like leo, welsh, roo, and not, for onboarding new users.
ALEX currently runs its 12M ALEX token incentive program called Surge. A large user focused community effort should be celebrated 🧡 @ALEXLabBTC's Hadan talks about how he sees this as a fun entry point for new users to start stacking or using other apps like ALEX or Velar.
Bringing the largest asset to the leading Bitcoin L2 with sBTC 🟧 - @ALEXLabBTC CTO @5eightandeight discusses creating a DeFi boom on Bitcoin. ALEX allocated 12M ALEX tokens via a community vote to the Surge Campaign, rewarding users pooling sBTC & other tokens. Check it out!
.@ALEXLabBTC was drained of over $4.3 million on Wednesday; the DeFi platform said it had identified the attacker. trib.al/BVTId8S
.@ALEXLabBTC was drained of over $4.3 million on Wednesday; the DeFi platform said it had identified the attacker. By @shauryamalwa. trib.al/df6x24a
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