ALEX Protocol Announces Full Reimbursement Plan After $8.37M Exploit

The ALEX DeFi platform experienced a significant loss of approximately $8.37 million due to a token listing bug on June 6, 2025. This exploit impacted STX, sBTC, USDC, and WBTC tokens. In response, the ALEX team has outlined a comprehensive plan for full reimbursement from the Cetus treasury, followed by a relaunch with enhanced security measures. The company’s leadership, led by CEO Dr. Chiente Hsu and CTO Jude Nelson, is committed to addressing these vulnerabilities and restoring user confidence.