Alex Protocol Launches Treasury Grant Program Following $8.3M Hack

Following a security breach impacting its platform on June 6th, which led to a loss of over $8.3 million in assets, DeFi platform Alex Protocol has launched a treasury grant program to reimburse affected users. The program will provide financial compensation via a combination of actual tokens and USDC equivalents based on the type of asset lost, with details outlined through an official interface for users to review and accept their offer. 8.4 million STX, 21.85 sBTC, 149,850 aUSD, and 2.8 aBTC were targeted in the attack, which exploited a vulnerability within the platform’s registration verification logic. The program also details payouts based on average on-chain prices observed from 10:00 am to 2:00 pm UTC at the time of the incident.