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Hacker sends out STX tokens through 9,700 transactions! 😱🔒

Hacker sends out STX tokens through 9,700 transactions! 😱🔒

The Alex Protocol Attack Update

A recent update on the Alex protocol attack reveals that the attacker has created over 4,700 unique addresses, indicating a significant increase from just 100 addresses in the previous seven days.

Attack Details:

  • The attacker has executed more than 9,700 traceable transactions to distribute the stolen STX tokens.
  • Traceable STX deposits into centralized exchanges (CEXs) amount to 8,373,587 STX.
  • The attacker’s on-chain balance stands at 5,560,332 STX tokens, calculated from wallet balances exceeding 100 STX units.

A Closer Examination of the Alex Protocol Attack

An analysis of on-chain data by the Certik platform reveals that Alex Lab fell victim to a compromise of its private keys during a smart contract upgrade, similar to the Ronin bridge hacker’s techniques that led to over $600 million in asset losses.

  • The attacker displays confidence in the success of their strategy.
  • Despite the team’s offer of a 10% bounty reward, the hacker rejected it, indicating a lack of interest even after an identity breach.

Implications on the Market

Following the attack on Alex Labs, the value of Stacks (STX) has decreased by more than 16% in the past week, settling at around $1.82 on Monday.

While the majority of CEXs have frozen the stolen funds, the attacker has successfully liquidated a portion, exacerbating the pressure on crypto assets during a bearish market trend.

Hot Take: Stay Informed and Vigilant

Dear Crypto Enthusiast, it is crucial to stay informed about security vulnerabilities and attacks in the crypto space like the recent incident involving the Alex protocol. By remaining vigilant and adopting best practices for securing your assets, you can safeguard your investments and contribute to a more secure digital ecosystem.

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This content is aimed at sharing knowledge, it's not a direct proposal to transact, nor a prompt to engage in offers. Lolacoin.org doesn't provide expert advice regarding finance, tax, or legal matters. Caveat emptor applies when you utilize any products, services, or materials described in this post. In every interpretation of the law, either directly or by virtue of any negligence, neither our team nor the poster bears responsibility for any detriment or loss resulting. Dive into the details on Critical Disclaimers and Risk Disclosures.

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Hacker sends out STX tokens through 9,700 transactions! 😱🔒