Alex Protocol has initiated a Treasury Grant Program to reimburse users affected by an $8 million exploit that targeted multiple liquidity pools on June 6. The compensation plan offers reimbursements through a combination of original tokens and USDC stablecoin.
Under the program, STX token losses will be fully compensated in USDC, while sBTC losses will be replaced with aBTC. Losses in aBTC will be partially reimbursed with aBTC and partially with USDC. Community analysis suggests the exploit may be linked to a limitation in the Stacks blockchain framework.
This security incident marks Alex Protocol’s second major breach within a year, following a previous $4.3 million exploit suspected to involve the Lazarus hacker group. Affected users must connect their wallets to the grant interface by the specified deadline to receive reimbursements, with distribution scheduled for completion by June 17.