Menu

  • Alerts
  • Incidents
  • News
  • APTs
  • Cyber Decoded
  • Cyber Hygiene
  • Cyber Review
  • Cyber Tips
  • Definitions
  • Malware
  • Threat Actors
  • Tutorials

Useful Tools

  • Password generator
  • Report an incident
  • Report to authorities
No Result
View All Result
CTF Hack Havoc
CyberMaterial
  • Education
    • Cyber Decoded
    • Definitions
  • Information
    • Alerts
    • Incidents
    • News
  • Insights
    • Cyber Hygiene
    • Cyber Review
    • Tips
    • Tutorials
  • Support
    • Contact Us
    • Report an incident
  • About
    • About Us
    • Advertise with us
Get Help
Hall of Hacks
  • Education
    • Cyber Decoded
    • Definitions
  • Information
    • Alerts
    • Incidents
    • News
  • Insights
    • Cyber Hygiene
    • Cyber Review
    • Tips
    • Tutorials
  • Support
    • Contact Us
    • Report an incident
  • About
    • About Us
    • Advertise with us
Get Help
No Result
View All Result
Hall of Hacks
CyberMaterial
No Result
View All Result
Home Incidents

ALEX Lab Bounty After $4.3M DeFi Hack

May 14, 2024
Reading Time: 3 mins read
in Incidents
ALEX Lab Bounty After $4.3M DeFi Hack

Bitcoin DeFi application ALEX Lab suffered a significant security breach early Wednesday, resulting in the loss of over $4.3 million in various tokens. Security researchers from CertiK indicated that the attackers likely compromised a private key that controlled ALEX’s XLink bridge, which facilitates token transfers between different blockchains. The hacker managed to steal over $300,000 worth of Bitcoin (BTC), $3.3 million worth of stablecoins, and $75,000 worth of Sugar Kingdom (SKO) tokens.

ALEX Lab developers confirmed the breach via an X post during early European hours, asserting that they have identified the attacker. In response to the attack, ALEX Lab has offered the hacker a 10% bounty for the return of 90% of the stolen funds. The team stated, “ALEX Lab Foundation has identified the individual responsible for the recent security breach and is offering a resolution through a bounty arrangement.” They assured that upon compliance, there would be no further pursuit or law enforcement involvement. This offer is valid until May 18 at 0800 UTC.

To mitigate further misuse of the stolen funds, ALEX Lab has collaborated with major exchanges to freeze assets associated with the hacker. This proactive measure aims to prevent the hacker from laundering or further utilizing the stolen funds. Private key compromises remain a prevalent attack vector in the cryptocurrency space, with previous high-profile incidents like Ronin’s $650 million hack and Harmony’s $100 million hack underscoring the critical need for robust private key security.

ALEX Lab’s prompt response and the offer of a bounty highlight the ongoing challenges DeFi protocols face in securing their platforms against sophisticated cyber threats. The situation underscores the importance of enhanced security measures and the potential for community-driven solutions in addressing breaches and recovering assets.

Reference:
  • ALEX Lab Loses $4.3 Million in Hack Offers 10% Bounty for Return of Funds
Tags: ALEXBitcoinCertiKcyber incidentsCyber Incidents 2024Cyber threatsDeFiMay 2024
ADVERTISEMENT

Related Posts

Hong Kong DSC Hit By Ransomware Attack

Alabama Cybersecurity Event Hits Services

May 14, 2025
Hong Kong DSC Hit By Ransomware Attack

Andy Frain Data Breach Impacts 100k People

May 14, 2025
Hong Kong DSC Hit By Ransomware Attack

Hong Kong DSC Hit By Ransomware Attack

May 14, 2025
Madison County Iowa Systems Disrupted

Alleged Steam Breach Exposes 89M Records

May 13, 2025
Madison County Iowa Systems Disrupted

Ulhasnagar Municipal Corporation Hacked

May 13, 2025
Madison County Iowa Systems Disrupted

Madison County Iowa Systems Disrupted

May 13, 2025

Latest Alerts

Microsoft Defender Bug Allows SYSTEM Access

Uncanny Automator Bug Risks WordPress Sites

Devs Hit By PyPI Solana Token Secret Theft

Hackers Exploit Output Messenger Zero-Day

ASUS Fixes Critical Flaws in DriverHub

Apple Fixes Critical Bugs in iOS and MacOS

Subscribe to our newsletter

    Latest Incidents

    Alabama Cybersecurity Event Hits Services

    Andy Frain Data Breach Impacts 100k People

    Hong Kong DSC Hit By Ransomware Attack

    Alleged Steam Breach Exposes 89M Records

    Ulhasnagar Municipal Corporation Hacked

    Madison County Iowa Systems Disrupted

    CyberMaterial Logo
    • About Us
    • Contact Us
    • Jobs
    • Legal and Privacy Policy
    • Site Map

    © 2025 | CyberMaterial | All rights reserved

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In

    Add New Playlist

    No Result
    View All Result
    • Alerts
    • Incidents
    • News
    • Cyber Decoded
    • Cyber Hygiene
    • Cyber Review
    • Definitions
    • Malware
    • Cyber Tips
    • Tutorials
    • Advanced Persistent Threats
    • Threat Actors
    • Report an incident
    • Password Generator
    • About Us
    • Contact Us
    • Advertise with us

    Copyright © 2025 CyberMaterial