Alex Protocol Unlikely to Negotiate with Hackers, Strengthens Law Enforcement Cooperation
CryptoNewsTerminal Staff17 May, 2024
Alex Protocol Unlikely to Negotiate with Hackers, Strengthens Law Enforcement Cooperation
Alex, a Stacks-based DeFi protocol, has announced that it is unlikely to engage in negotiations with the hacker responsible for the recent theft of funds. The protocol reached this decision after consulting with security firms and determining that the hacker is not likely to cooperate. In response to the incident, Alex has stated that it will be working to strengthen cooperation with law enforcement agencies in order to recover stolen funds and track down the perpetrator. The protocol has also announced that it is allocating funds from its Treasury grant program to support victims of the hack. This incident highlights the growing need for collaboration between DeFi protocols and law enforcement agencies to combat cybercrime. As the DeFi space continues to evolve, it is essential that protocols take proactive measures to protect users and their assets.
