ALEX Protocol Hacked Again: $8.3 Million Stolen in DeFi Breach

ALEX Protocol offers USDC compensation plans to affected users: Is it enough?

Bitcoin-based DeFi platform ALEX Protocol has suffered a devastating $8.3 million exploit. Its the platform’s second major hack in just over a year. The attack has raised serious concerns over the project’s security framework.

Flaw in Self-Listing Logic Enables Attack

On June 6, 2025, ALEX confirmed the breach occurred due to a vulnerability in its self-listing verification logic. This flaw, meant to prevent unauthorized asset listings, was bypassed by attackers who then drained several liquidity pools.

The total stolen assets include:

• 8.4 million STX ($5.69 million)

• 21.85 sBTC ($2.24 million)

• 149,850 USDC/USDT

• 2.80 WBTC ($287,369)

User Compensation Plan Announced

The platform’s team has committed to reimbursing all affected users from the ALEX Lab Foundation Treasury. Compensation will be made in USDC, calculated based on the average value of the stolen tokens between 10:00 and 14:00 UTC on June 6.

Notifications and claim forms will be sent by June 8, with a submission deadline of June 10. Compensation is expected within seven days after form verification.