Alex Requests Exchanges to Freeze Assets After Bridge Exploit

IconCNT16 May, 2024

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Alex Requests Exchanges to Freeze Assets After Bridge Exploit

On May 14th, Alex, a DeFi protocol built on Stacks (STX), suffered a bridge exploit resulting in the loss of 13.7 million STX. The protocol has since identified the stolen assets on multiple centralized exchanges (CEXs) and has requested that these exchanges freeze the funds and suspend deposits and withdrawals. Alex is currently working with the exchanges to recover the stolen assets and has plans to discuss countermeasures, including burning the stolen STX. The protocol has also confirmed the scale of the lost assets and is working with law enforcement to investigate the incident. Previously on May 16th, CertiK, a blockchain security firm, detected an irregular transaction worth $4.3 million on the Alex protocol bridge on the BNB network.

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