Earlier on Wednesday, more than $4.30 million of various tokens from bitcoin DeFi app ALEX Lab were stolen following a suspected private key breach attack on its bridging service.
CertiK said the attackers may have the private key to the XLink bridge that controls ALEX, a service that allows users to transfer tokens between different blockchains. The hackers transferred more than $300,000 worth of Bitcoin (BTC), $3.30 million worth of stablecoins and $75,000 worth of Sugar Kingdom (SKO) tokens.
ALEX developers confirmed the hack in an X post in the early hours of European time, claiming they knew the attackers' identities. The team offered them a 10% bounty and demanded that they return 90% of the stolen funds.
DeFi tool Alex Lab loses $4.30 million to hack
2024-05-15 07:58:25
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