Key Points
- Bitcoin DeFi platform Alex Lab links a $4 million exploit to the North Korea-backed Lazarus Group.
- Alex Lab is working with international law enforcement and cybersecurity experts to recover the stolen assets.
Bitcoin DeFi application Alex Lab reported last month that it had suffered a $4 million exploit. The platform has now attributed this cyber attack to the Lazarus Group, a notorious hacking collective thought to be backed by the North Korean government.
Investigation and Evidence
Following a thorough investigation, Alex Lab stated that they have identified substantial transaction evidence linking the attack to the Lazarus Group. The evidence includes two addresses, an initial exploit link and another connected to the Lazarus Group, which were crucial in tracking the movement of the stolen assets.
Alex Lab is currently working with international law enforcement agencies and cybersecurity experts to address the implications of this attack and to recover the stolen assets.
Details of the Exploit
The exploit was announced by Alex Lab on May 16, stating that it was carried out using compromised private keys obtained through a phishing attack. The attacker was able to drain some assets from the Alex protocol, resulting in losses of about $4.3 million.
Since the exploit, the platform has facilitated contact between Singaporean police and relevant crypto exchanges to ensure the security of the stolen assets while the investigation continues.
Alex Lab also revealed that many of the stolen STX traced to CEXs are currently frozen with the relevant exchanges, who have indicated that they will continue to freeze the stolen assets pending the police investigations. The platform will make announcements as soon as these frozen funds can be returned to the affected users.
At the time of the report, the price of the Alex token had decreased by 3.2% over the previous 24 hours, according to data from CoinGecko.
