Alex Lab, a developer of Bitcoin layer-2 technology, suspects that the $4 million exploit the company suffered in May is most likely the work of the infamous North Korean hacker group Lazarus Group.

Money tapped from Bitcoin-based DeFi protocol

In a June 25 post on platform

The Alex Lab team also shared that they worked with independent blockchain detective ZachXBT to gather the evidence needed to link Lazarus to the exploit.

BNB Smart Chain bridge operated

On May 16, Alex Lab informed its users on

In addition, the hackers also managed to exploit approximately $13.7 million worth of Stacks tokens; however, some of these funds were sent to centralized exchanges and then frozen by the exchanges.

On June 20, Alex Lab reported that the attacker had executed over 11,800 STX transactions, using several DeFi protocols and bridges, including Arkadiko, Bitflow, and Allbridge, to dispose of the stolen STX.

Hackers gained access to the team’s private keys

The Alex Lab team shared that the exploit involved hackers gaining access to the team’s private keys. However, they assured users that the Alex Protocol smart contracts themselves had never been compromised.

To recover the stolen funds, the team offered the attackers a 10% reward for the return of 90% of the stolen funds and promised not to take legal action if the funds were returned.


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