Alex Lab: A portion of the stolen funds has been recovered, and the treasury grant program is under evaluation

ChainCatcher news, Bitcoin decentralized finance tool Alex Lab has released an update on the attack incident, stating that the team is closely monitoring the attacker's wallet and has notified all relevant CEXs. All known CEX accounts associated with the attacker have been frozen. A portion of the stolen funds has been identified and is being recovered from a CEX. The team is actively collaborating with other CEXs through the necessary processes to facilitate the return of more funds. To further recover the stolen funds, we are prepared to file a police report, and if the attacker does not cooperate with us in a timely manner, we will seek police support to assist in the recovery of the funds.

So far, all aBTC, sUSDT, xBTC, xUSD, ALEX, atALEX, LiSTX, LUNR, SKO, CHAX, $B20, ORDG, ORMM, ORNJ, TRIO, TX20, and STXS have been recovered. The smart contract code and infrastructure of ALEX have not been compromised.

Alex Lab also stated that due to the uncertainty of recovering all stolen funds, they are evaluating the use of ALEX reserves held by the Alex Lab Foundation to fund a treasury grant program to support the community affected by this attack during this difficult time. Additionally, they are considering the possibility of proposing a SIP to the Stacks community to burn STX held in wallets that have not recovered stolen funds and to mint new STX for affected community members.

Previous news, the Bitcoin DeFi platform Alex announced the discovery of a vulnerability in the XLink bridge and has actively collaborated with exchanges, partners, and ecosystem contributors to resolve the situation.