Crypto:
30601
Bitcoin:
$58.502
% 2.03
BTC Dominance:
%53.3
% 0.09
Market Cap:
$2.13 T
% 0.20
Fear & Greed:
25 / 100
Bitcoin:
$ 58.502
BTC Dominance:
% 53.3
Market Cap:
$2.13 T

Alex Lab Suspects $4 Million Exploit Linked to North Korea’s Lazarus Group

Alex Lab

Alex Lab, a developer of Bitcoin layer-2, thinks the $4 million breach they had in May is most likely connected to the infamous Lazarus Group, North Korean hacker team. Alex Lab noted three wallet addresses hackers used on May 16 to drain cash from the Bitcoin-based decentralized finance (DeFi) network in a June 25 post on X.

Research and Proof of Evidence

The researchers gathered evidence connecting Lazarus to the exploit working with independent blockchain sleuth ZachXBT. Alex Lab told users on May 16 that attackers had syphoned out around $4.3 million by using its BNB Smart Chain bridge. Furthermore used were about $13.7 million worth of Stacks (STX) tokens, some of which were transmitted to controlled exchanges and later locked.

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Alex Lab revealed on June 20 that the assailant had off-ramped the stolen STX utilizing numerous DeFi protocols and bridges including Arkadiko, Bitflow, and Allbridge, transmitting over 11,800 STX transactions. Though the smart contracts of the Alex Protocol were never hacked, the vulnerability included hackers obtaining access to the team’s private keys.

Alex Lab pledged to stop legal action should the 90% of the pilfers be recovered and gave the attackers a 10% reward for this purpose. The assailants did not answer the reward appeal, however.

Affective on ALEX Token

Alex Lab’s native ALEX token has sunk 10% in the previous week and dropped 47% over the past month, therefore the exploit has had a big effect on its pricing. Right now it is trading at $0.07.

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