The post DeFi Protocol Alex Lab $4M Hack Linked To Lazarus Group appeared on BitcoinEthereumNews.com.

Alex Lab, a Bitcoin-based DeFi protocol, revealed new details about the hack it suffered in May. The project announced it had potentially identified the attacker with the help of a blockchain sleuth while the police continued to investigate the incident. DeFi Protocol Loses Millions To Phishing Attack On May 15, the Alex Lab Foundation fell victim to an exploit that took millions in users’ funds. The DeFi protocol unveiled that the attacker obtained private keys via a phishing attack, granting them full access to the funds. The attacker used the compromised keys to access one of the vaults associated with the Alex Liquidity Pool, which compromised all assets in the vault. The affected asset list includes aBTC, sUSDT, XBTC, xUSD, ALEX, atALEX, LiSTX, SKO, CHAX, $B20, ORDG, ORMM, ORNJ, TRIO, TX20, and STXS. Nonetheless, the project stated that its underlying smart contract code and infrastructure had not been compromised. After taking over as the administrator, the attacker drained around 13.7 million Stacks (STX), 3 million of which they sent to several centralized exchanges (CEXs). Per the report, the exploiters sent STX to Binance, Kraken, OKX, Bybit, Kucoin, and other exchanges. Summary of the stolen STX. Source: Alex Lab on X By May 16, the DeFi Project had recovered most of the affected assets. Additionally, it revealed to be monitoring the exploiter’s wallets and to have notified the involved CEXs. Alex Lab also stated that a portion of the stolen funds, worth around $4 million, were in the process of being recovered from one of the centralized exchanges. However, the protocol explained that there were no guarantees that all stolen funds could be retrieved. Lazarus Group Linked To The Attack On June 17, Alex Lab updated investors on the status of the incident. After failing to contact the exploiter, the DeFi protocol…

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Filed under: News - @ June 26, 2024 4:26 pm