ALEX Protocol Suffers $8.37 Million Hack Due to Security Vulnerability

On June 6, 2025, the ALEX DeFi platform on Stacks experienced a major security breach resulting in losses of over $8.37 million. The exploit stemmed from a flaw in its self-listing verification process on the Stacks blockchain. Attackers were able to bypass listing rules and steal a significant amount of assets, including STX tokens, sBTC, and various stablecoins such as USDC/USDT and WBTC.