ALEX Lab Loses $4.3 Million in Tokens: DeFi Hackers Strike

The post ALEX Lab Loses $4.3 Million in Tokens: DeFi Hackers Strike appeared first on Coinpedia Fintech News

Bitcoin DeFi application ALEX Lab lost $4.3 million in various tokens early Wednesday. According to security researchers at CertiK, the attackers gained control of a private key that managed ALEX’s XLink bridge, which allows users to transfer tokens between blockchains. The hacker transferred over $300K worth of BTC, $3.3 million worth of stablecoins, and $75K worth of SKO tokens. ALEX developers claim to know the attacker’s identity and have offered them a 10% bounty for the return of 90% of the stolen funds, assuring no law enforcement action upon compliance. Major exchanges have frozen funds associated with the hacker.