ALEX Protocol Offers Full User Compensation After Major Exploit

A significant security breach at the ALEX Protocol has resulted in a loss of $8.37 million. In response, the protocol has pledged to fully compensate affected users through USDC. This incident has prompted both an internal security audit and the suspension of the self-listing function on the platform. The vulnerability exploited allowed for the theft of STX, sBTC, USDC, and WBTC, reminiscent of past high-profile attacks including the one linked to the Lazarus Group in 2024. Experts suggest that while compensation addresses immediate losses, deeper systemic vulnerabilities within the DeFi sector need urgent attention.