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MainNewsALEX Lab Off...

ALEX Lab Offers 10% Bounty for Return of $4.3M in Stolen Assets: Will the Hacker Bite?


May, 15, 2024
< 1 min read
by CoinEdition
ALEX Lab Offers 10% Bounty for Return of $4.3M in Stolen Assets: Will the Hacker Bite?
  • ALEX Lab’s bounty program underscores a proactive approach to recovering stolen assets, fostering collaboration in the DeFi community.
  • The swift response from major exchanges to freeze the hacker’s assets highlights collective efforts to mitigate further misuse.
  • Past crypto breaches, like Ronin’s and Harmony’s, serve as cautionary tales, emphasizing the urgent need for robust security measures.

The ALEX Lab Foundation, grappling with a recent security breach that drained over $4.3 million from its Bitcoin DeFi application, has embarked on an unconventional route to recover the stolen funds. In a bold move, the ALEX team has proposed a unique bounty program, offering a 10% reward on the total stolen funds in exchange for the return of 90% of the assets. 

This initiative comes on the heels of a suspected private key compromise that targeted ALEX’s XLink bridge service, facilitating the unauthorized transfer of a substantial sum across various tokens.

Security analysts at CertiK have shed light on the modus operandi of the attackers, pointing to a probable exploitation of a compromised private key associated with ALEX’s XLink bridge. This breach enabled the h…

The post ALEX Lab Offers 10% Bounty for Return of $4.3M in Stolen Assets: Will the Hacker Bite? appeared first on Coin Edition.

Read the article at CoinEdition

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LEAKED: Biden Admin to Attend Bitcoin Roundtable With Key Congressional Officials in DC

LEAKED: Biden Admin to Attend Bitcoin Roundtable With Key Congressional Officials in DC

The proposed meeting, led by U.S. Congressman Ro Khanna, is set to discuss how to kee...
Jun, 15, 2024
2 min read
by Bitcoin Magazine
Bitcoin Banking: El Salvador Drafts Law to Expand Crypto Adoption

Bitcoin Banking: El Salvador Drafts Law to Expand Crypto Adoption

El Salvador, the first country to adopt Bitcoin as legal tender, is considering a dra...
Jun, 15, 2024
< 1 min read
by CoinEdition
MainNewsALEX Lab Off...

ALEX Lab Offers 10% Bounty for Return of $4.3M in Stolen Assets: Will the Hacker Bite?


May, 15, 2024
< 1 min read
by CoinEdition
ALEX Lab Offers 10% Bounty for Return of $4.3M in Stolen Assets: Will the Hacker Bite?
  • ALEX Lab’s bounty program underscores a proactive approach to recovering stolen assets, fostering collaboration in the DeFi community.
  • The swift response from major exchanges to freeze the hacker’s assets highlights collective efforts to mitigate further misuse.
  • Past crypto breaches, like Ronin’s and Harmony’s, serve as cautionary tales, emphasizing the urgent need for robust security measures.

The ALEX Lab Foundation, grappling with a recent security breach that drained over $4.3 million from its Bitcoin DeFi application, has embarked on an unconventional route to recover the stolen funds. In a bold move, the ALEX team has proposed a unique bounty program, offering a 10% reward on the total stolen funds in exchange for the return of 90% of the assets. 

This initiative comes on the heels of a suspected private key compromise that targeted ALEX’s XLink bridge service, facilitating the unauthorized transfer of a substantial sum across various tokens.

Security analysts at CertiK have shed light on the modus operandi of the attackers, pointing to a probable exploitation of a compromised private key associated with ALEX’s XLink bridge. This breach enabled the h…

The post ALEX Lab Offers 10% Bounty for Return of $4.3M in Stolen Assets: Will the Hacker Bite? appeared first on Coin Edition.

Read the article at CoinEdition

Read More

LEAKED: Biden Admin to Attend Bitcoin Roundtable With Key Congressional Officials in DC

LEAKED: Biden Admin to Attend Bitcoin Roundtable With Key Congressional Officials in DC

The proposed meeting, led by U.S. Congressman Ro Khanna, is set to discuss how to kee...
Jun, 15, 2024
2 min read
by Bitcoin Magazine
Bitcoin Banking: El Salvador Drafts Law to Expand Crypto Adoption

Bitcoin Banking: El Salvador Drafts Law to Expand Crypto Adoption

El Salvador, the first country to adopt Bitcoin as legal tender, is considering a dra...
Jun, 15, 2024
< 1 min read
by CoinEdition