Alex Protocol Reimburses $8.3 Million After DeFi Exploit

The Alex Protocol, a Bitcoin-based DeFi platform operating on the Stacks blockchain, suffered a significant exploit for $8.3 million on June 6, 2025. This incident underscores the persisting security vulnerabilities in decentralized finance (DeFi) platforms. The Alex Lab Foundation has taken swift action to reimburse affected users and demonstrate commitment to proactive measures during such incidents. The platform’s decision to utilize treasury funds for reimbursement reflects a commitment to user well-being, mitigating immediate concerns within the community.