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Summary

Alex Lab suspects that North Korean hackers may be involved in a $4 million exploit on their Bitcoin DeFi protocol. The hackers targeted their BNB Smart Chain bridge, stealing funds and laundering tokens through exchanges.

Introduction

Bitcoin layer-2 developer Alex Lab, which suffered a $4 million hack in May, has identified three wallet addresses used by attackers to siphon funds from their DeFi protocol. The breach focused on their BNB Smart Chain bridge, resulting in significant financial losses and token laundering through centralized exchanges.

Main Points

• The hack on Alex Lab’s DeFi protocol involved theft of $4.3 million and laundering of $13.7 million worth of STX tokens.
• Alex Lab, in collaboration with blockchain investigator ZachXBT, traced the stolen assets to three specific wallets, one of which was identified as the key wallet.
• Despite offering a 10% bounty for the return of 90% of the stolen funds and proposing to cease legal action, the attackers have not responded to Alex Lab’s efforts.

Conclusion

Alex Lab’s investigation into the exploit on their DeFi protocol has led to suspicions of North Korean hacker involvement. Despite efforts to recover the stolen funds and engage with the attackers, the situation remains unresolved, highlighting the ongoing challenges in combating cryptocurrency-related cybercrime.

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