Bitcoin-focused defi platform ALEX Lab claims North Korean hackers, specifically the Lazarus Group, are likely behind a $4 million attack in May. In a June 25 post, ALEX Lab stated substantial transaction evidence links the attack to Lazarus Group.
The hack involved draining over $4.3 million in multiple tokens from ALEX Lab’s bridging service. Initially, ALEX Lab identified the responsible individual and offered a 10% bounty for the return of 90% of the stolen funds, but later retracted the offer without explanation.
Launched in 2021 by ex-bankers Chiente Hsu and Rachel Yu, ALEX Lab aims to simplify defi services on Bitcoin via Stacks. The startup has raised $18.3 million to date. ALEX Lab is now working with international law enforcement and cybersecurity experts to recover the stolen assets and strengthen security measures.
This incident underscores the importance of enhanced cybersecurity in the growing defi sector, particularly on platforms like ALEX Lab that bridge traditional finance and decentralized systems.
