ALEX Private Key Compromise Not an Issue in Stacks, Says Co-Founder
CryptoNewsTerminal Staff17 May, 2024
ALEX Private Key Compromise Not an Issue in Stacks, Says Co-Founder
Stacks (STX) Co-Founder Muneeb Ali said, “I regret to inform you that Stacks-based DeFi protocol ALEX suffered a compromise of its private key. This is not due to an issue with Stacks Clarity contracts or an exploit. As such, there will be no Stacks Improvement Proposal (SIP) for this incident. The Stacks layer 2 is working as designed.” Blockchain security firm CertiK reported on Jan. 14 that it had detected irregular transactions in the ALEX protocol bridge. ALEX said on Jan. 16 that the private key compromise resulted in the loss of 13.7 million STX.
