Alex Lab points to the Lazarus team after last month’s $4 million exploit
Bitcoin Layer-2 developer Alex Laub believes the $4 million exploit he received in May is linked to the notorious North Korean hacking alliance Lazarus Group.
In a June 25 post for X, Alex Lab drew attention to three wallet addresses hackers used on May 16 to withdraw funds from the Bitcoin-based decentralized finance (DeFi) protocol.
They also shared that the team collaborated with independent blockchain sleuth ZachXBT to compile the evidence needed to link Lazarus to the exploit.
On May 16, Alex Lab informed users on X that attackers had used the BNB Smart Chain bridge, taking nearly $4.3 million in the process.
Hackers used approximately $13.7 million worth of Stacks (STX) tokens.
On June 20, the Alex Lab attacker transmitted more than 11,800 STX transactions using multiple DeFi protocols and bridges including Arcadicon, Bitstream, and Allbridge to destroy the stolen STX.
At that time, the group used hackers who had access to the group's private keys. However, the team has assured users that the Alex protocol smart contracts themselves have never been breached.
Related: Alex Labs rolls out post-exploit recovery plan
The group offered a 10% reward for the attackers to return 90% of the stolen money and promised not to take legal action if the money is returned.
The Raiders did not respond to Alex Lab's request for a gift.
The price of the ALEX token, a native of the Bitcoin Layer-2 protocol, has fallen by 10% in the past week and is down by 47% in the past month. It is currently trading at $0.07.
Magazine — ‘Bitcoin Layer 2s' Are Not L2s at All: Why That Matters
