Bounty

DeFi

Bitcoin

ALEX Lab

Coin

<ul class="news-points">
 <li>ALEX Lab’s bounty program underscores a proactive approach to recovering stolen assets, fostering collaboration in the DeFi community.</li>
 <li>The swift response from major exchanges to freeze the hacker’s assets highlights collective efforts to mitigate further misuse.</li>
 <li>Past crypto breaches, like Ronin’s and Harmony’s, serve as cautionary tales, emphasizing the urgent need for robust security measures.</li>
</ul>
The ALEX Lab Foundation, grappling with a recent security breach that drained over $4.3 million from its Bitcoin DeFi application, has embarked on an unconventional route to recover the stolen funds. In a bold move, the ALEX team has proposed a unique bounty program, offering a 10% reward on the total stolen funds in exchange for the return of 90% of the assets.&nbsp;
This initiative comes on the heels of a suspected private key compromise that targeted ALEX’s XLink bridge service, facilitating the unauthorized transfer of a substantial sum across various tokens.
Security analysts at CertiK have shed light on the modus operandi of the attackers, pointing to a probable exploitation of a compromised private key associated with ALEX’s XLink bridge. This breach enabled the h…
The post <a href="https://coinedition.com/alex-lab-offers-10-bounty-for-return-of-4-3m-in-stolen-assets-will-the-hacker-bite/" rel="noopener noreferrer nofollow">ALEX Lab Offers 10% Bounty for Return of $4.3M in Stolen Assets: Will the Hacker Bite?</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

ALEX Lab Offers 10% Bounty for Return of $4.3M in Stolen Assets: Will the Hacker Bite?

Coin Edition

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