ALEX altcoin developer Alex Lab, who skilled a significant hack, introduced that as of June 5, 2024, all income generated by the platform shall be allotted to refund customers affected by the latest hack.
The announcement got here by way of an replace shared on the X platform, the place the corporate stated, “We’re dedicated to transparency and person compensation. Beginning June 5, 2024, all ALEX revenues shall be used to compensate customers affected by the hack.”
Earlier in Could, Alex Lab, a Bitcoin decentralized finance (DeFi) software, was the sufferer of a cyberattack that resulted within the lack of $4.3 million. In response, the corporate supplied an preliminary 10% reward for the restoration of the stolen funds. Alex Lab additionally introduced that that they had recognized the attacker and that the stolen funds had been frozen by main exchanges.
Safety agency CertiK stated the hackers possible took management of the personal keys that handle ALEX’s XLink bridge, a service that facilitates the switch of tokens between totally different blockchains. The attackers then transferred $300,000 price of Bitcoin (BTC), $3.3 million price of stablecoins, and $75,000 price of Sugar Kingdom (SKO) tokens.
*This isn’t funding recommendation.
