- ALEX Lab, a Bitcoin-based DeFi platform, was hacked on June 6th, causing the platform to lose over $8.3 million due to a flaw in its self-listing verification system.
- In response to the hack, the platform has pledged to fully repay affected users in USDC, using its treasury.
Bitcoin’s most popular decentralized finance (DeFi) platform that offers users the ability to earn, lend, and trade without banks experienced a recent breach that caused the platform to lose about $8.3 million.
The platform confirmed the incident and quickly promised to repay affected users in USDC, a stable digital currency. This event highlights the ongoing risks in DeFi, especially as the space continues to grow.
How the Bitcoin-DeFi Hack Happened and Reimbursement Plans
On the 6th of June 2025, the Bitcoin-based DeFi protocol ALEX Lab suffered a major security breach that led to the loss of more than $8.3 million from various digital asset pools. According to details, the attacker took advantage of a weakness in the platform’s self-listing verification system, which was actually created to help control on-chain limits on the Stacks blockchain.
Some of the stolen funds included 8.4 million STX tokens worth around $5.69 million, 21.85 sBTC valued at about $2.24 million, 149,850 in stablecoins like USDC and USDT, and 2.8 WBTC totaling nearly $287,000. This recent incident makes it the second time in two years that ALEX Lab has been targeted, bringing more attention to the dangers linked to smart contracts in newer Bitcoin DeFi systems.
In response to the hack, the ALEX Lab Foundation quickly announced that it will repay all impacted users fully in USDC. The reimbursement will come from the project’s own treasury and will be calculated using average on-chain prices between 10:00 and 14:00 UTC on the same day. The team confirmed that the total value set for user repayment is $8,373,227.13 and emphasized their commitment to making users whole again.
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