Alex Protocol Suffers $8.3M Exploit, Promises Full Reimbursement

Decentralized Finance platform Alex Protocol has been hit by a major security breach, losing approximately $8.3 million in assets on the Stacks blockchain. The attack occurred due to a smart contract vulnerability, prompting the Alex Lab Foundation to initiate a full reimbursement plan for affected users. Users will receive reimbursements via USDC stablecoins through a structured claims process, scheduled to begin June 8th. More details regarding the exploit and steps being taken to prevent future incidents are expected in a post-mortem report due in the coming weeks.