Close Menu
Cryprovideos
    What's Hot

    Rising Markets and De-Dollarization: A Shift in International Monetary Dynamics

    June 8, 2025

    Bitcoin Worth Approaches $106,000 As Resurgence Continues — However Watch Out For This Degree | Bitcoinist.com

    June 8, 2025

    To Reap Tokenization's Advantages, Accredited Investor Guidelines Ought to Be Revamped: Robinhood Crypto GM – Decrypt

    June 8, 2025
    Facebook X (Twitter) Instagram
    Cryprovideos
    • Home
    • Crypto News
    • Bitcoin
    • Altcoins
    • Markets
    Cryprovideos
    Home»Bitcoin»$14M Vanishes in Recent Assault on Bitcoin-Based mostly DeFi Protocol
    M Vanishes in Recent Assault on Bitcoin-Based mostly DeFi Protocol
    Bitcoin

    $14M Vanishes in Recent Assault on Bitcoin-Based mostly DeFi Protocol

    By Crypto EditorJune 8, 2025No Comments3 Mins Read
    Share
    Facebook Twitter LinkedIn Pinterest Email


    ALEX Protocol, a DeFi platform constructed on Bitcoin’s Stacks layer, has suffered a second main breach—this time leading to an estimated $14 million loss.

    The incident comes simply over a yr after a earlier assault drained $4.3 million through its cross-chain bridge.

    Preliminary experiences of suspicious exercise started surfacing on social media, prompting the ALEX workforce to verify a “safety incident.” The mission later adopted up with an in depth autopsy, whereas the official web site stays offline for upkeep.

    The exploit stemmed from a flaw in how failed transactions had been dealt with on the Stacks community. The attacker reportedly manipulated the protocol’s lack of ability to correctly confirm transaction failures, utilizing rejected knowledge to falsely authorize fund withdrawals.

    Crypto safety agency QuillAudits pegged the harm at round $14 million. Among the many stolen property had been 63.5 items of wrapped Bitcoin variants (aBTC and sBTC). The incident additionally rattled the broader Stacks ecosystem, with the worth of ALEX plunging over 50% and STX—the community’s native token—dropping round 10%.

    Confusion briefly surrounded the peg stability of sBTC after knowledge feeds confirmed a deviation in worth. Nevertheless, a Stacks spokesperson clarified that the token stays on-peg when utilizing official oracle knowledge.

    Whereas the assault was remoted to ALEX, different initiatives within the Stacks ecosystem responded swiftly. Pontis paused its bridge to safeguard liquidity, and Bitflow eliminated the affected liquidity swimming pools to forestall additional threat.

    This isn’t ALEX’s first encounter with a essential vulnerability. In Could final yr, $4.3 million was drained from its XLink bridge, a breach believed to be tied to a compromised personal key. Following that incident, the workforce applied numerous safety upgrades and migrated essential contracts—however clearly, these measures weren’t sufficient to forestall this way more damaging exploit.

    $14M Vanishes in Recent Assault on Bitcoin-Based mostly DeFi Protocol
    Twitter

    Linkedin

    With over 8 years of expertise within the cryptocurrency and blockchain trade, Alexander is a seasoned content material creator and market analyst devoted to creating digital property extra accessible and comprehensible. He makes a speciality of breaking down complicated crypto traits, analyzing market actions, and producing insightful content material geared toward educating each newcomers and seasoned buyers. Alexander has constructed a popularity for delivering well timed and correct evaluation, whereas protecting a detailed eye on regulatory developments, rising applied sciences, and macroeconomic traits that form the way forward for digital finance. His work is rooted in a ardour for innovation and a agency perception that widespread schooling is essential to accelerating world crypto adoption.

    Telegram



    Supply hyperlink

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    Bitcoin Worth Approaches $106,000 As Resurgence Continues — However Watch Out For This Degree | Bitcoinist.com

    June 8, 2025

    To Reap Tokenization's Advantages, Accredited Investor Guidelines Ought to Be Revamped: Robinhood Crypto GM – Decrypt

    June 8, 2025

    Michael Saylor teases recent Bitcoin purchase after $1B inventory providing

    June 8, 2025

    New Bitcoin Layer 2 Presale Soars Previous $700K – Greatest New Crypto Coin to Purchase Now?

    June 8, 2025
    Latest Posts

    Bitcoin Worth Approaches $106,000 As Resurgence Continues — However Watch Out For This Degree | Bitcoinist.com

    June 8, 2025

    Michael Saylor teases recent Bitcoin purchase after $1B inventory providing

    June 8, 2025

    New Bitcoin Layer 2 Presale Soars Previous $700K – Greatest New Crypto Coin to Purchase Now?

    June 8, 2025

    Bitcoin Leveraged Merchants Are Again Betting On A Value Decline — What This Means

    June 8, 2025

    $14M Vanishes in Recent Assault on Bitcoin-Based mostly DeFi Protocol

    June 8, 2025

    Bitcoin At A Crossroads: $97,000 Value Foundation Holds Key To Subsequent Breakout

    June 8, 2025

    Analyst Unveils New All-Time Excessive Worth Goal for Bitcoin This Month, Says New Bubble Brewing in Crypto – The Day by day Hodl

    June 8, 2025

    Bitcoin Rebound From $100,000 – Wholesome Pullback Or Begin Of Deeper Correction?

    June 8, 2025

    CryptoVideos.net is your premier destination for all things cryptocurrency. Our platform provides the latest updates in crypto news, expert price analysis, and valuable insights from top crypto influencers to keep you informed and ahead in the fast-paced world of digital assets. Whether you’re an experienced trader, investor, or just starting in the crypto space, our comprehensive collection of videos and articles covers trending topics, market forecasts, blockchain technology, and more. We aim to simplify complex market movements and provide a trustworthy, user-friendly resource for anyone looking to deepen their understanding of the crypto industry. Stay tuned to CryptoVideos.net to make informed decisions and keep up with emerging trends in the world of cryptocurrency.

    Top Insights

    NFT undertaking plans crowdfund buy of Chilly Warfare nuclear bunker

    April 21, 2025

    Exodus crypto pockets and find out how to speed up Web3 adoption because of ENS

    November 2, 2024

    Coinbase's Base Emerges as Main Ethereum Layer-2

    March 12, 2025

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    • Home
    • Privacy Policy
    • Contact us
    © 2025 CryptoVideos. Designed by MAXBIT.

    Type above and press Enter to search. Press Esc to cancel.