ALEX Hacker Now Controls 5.56m STX in an On-Chain Wallet

IconCryptoNewsTerminal Staff17 Jun, 2024

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ALEX Hacker Now Controls 5.56m STX in an On-Chain Wallet

ALEX, a Stacks (STX)-based DeFi protocol that suffered a bridge exploit last month, has revealed that the hacker responsible for the incident has successfully transferred 5.56 million STX to an on-chain wallet. The hacker achieved this by distributing small amounts of STX to a large number of new addresses before depositing them into centralized exchanges. While most of the exchanges involved have reportedly agreed to cooperate with ALEX's recovery efforts, the hacker is aware of these actions and is actively attempting to move the stolen funds. This situation highlights the challenges and risks associated with DeFi and the importance of robust security measures to protect user assets.

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