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wAIt, scammers really out here finessing $8.3 MILLION outta Alex Protocol? ๐คก DEFI’s wild west vibes continue – gotta stay vigilant or get REKT in silence. ๐๐
lmfao $8.3 million heist on Alex Protocol?! ๐จ๐ค๐ธ Those bags got SNATCHED faster than you can say “rug pull”! ๐ฑ๐ #RIPinPeace #DEF
alex protocol got REKT in a massive hack losing $8.3 MILLION… millions in tokens STOLEN, victims promised repayment, but when post-mortem tho?! ๐๐ฅ๐จ
bro, $8.3 million hack at Alex Protocol?? ๐จ that’s like half my meme coin bag, someone’s out there living large tonight ๐ธ๐ค๐ #CryptoLife
bro, alex protocol got REKT!!! ๐๐ $8.3 mil vanish, 8.4 mil STX, 21.85 SBTC, $149,850 USDC/USDT, 2.8
On June 6, Alex Protocol experienced a major hack resulting in a loss of $8.3 million in digital assets. The vulnerability in the protocol’s self-administration logic allowed the attacker to drain liquidity from different asset pools, stealing millions in various tokens. The Alex Protocol announced the theft of 8.4 million STX, 21.85 SBTC, $149,850 in USDC and USDT, and 2.8 WBTC. The platform assured users that victims would be repaid using the platform’s treasury. Immediate steps were outlined for users to claim their repayment. The full technical details of the hack are yet to be disclosed, with a post-mortem report expected to be released soon. This incident accentuates the security challenges faced by DEFI platforms operating on Bitcoin-based ecosystems. Users must remain cautious and participate in the communication process to minimize risks and losses. The market is urged to invest in enhanced security practices and audit standards to support the growing demand for DEFI solutions based on Bitcoin.
https://altcoin.observer/the-great-feat-on-bitcoin/
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