Security researchers CertiK mentioned attackers likely obtained the private key controlling ALEX's XLink bridge, transferring significant amounts of various tokens, including BTC, stablecoins, and SKO tokens.
ALEX Lab developers acknowledged the hack and identified the attacker, offering a 10% bounty for the return of 90% of the stolen funds, with a deadline set until May 18, 0800 UTC.
Exchanges froze funds linked to the hacker to prevent further misuse post the security breach, a common occurrence amidst cryptocurrency hacks resulting from compromised private keys.
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