In May, Alex Lab faced a significant attack resulting in approximately $4.3 million in losses. The project has now linked the exploit to the Lazarus Group, a cyber-hacking entity backed by North Korea.
In a recent X post, Alex Lab shared that, following extensive investigations aided by crypto detective ZachXBT, they have found “substantial transaction evidence” connecting the attack to the Lazarus Group, known for its association with the North Korean government.
The team identified two key addresses—one linked to the initial exploit and another connected to the Lazarus Group—that were crucial in tracing the stolen assets. “We are actively collaborating with international law enforcement and cybersecurity experts to address the implications of this attack and to recover lost assets,” Alex Lab stated.
On May 16, Alex Lab announced on X that it had suffered an exploit through compromised private keys obtained via a phishing attack. “The exploiter was able to drain some assets from the ALEX protocol,” the project reported. Certik, a blockchain security firm, estimated the losses at around $4.3 million.
Since the attack, Alex Lab has coordinated with the Singaporean police and relevant crypto exchanges to secure the stolen assets during the investigation.
“Many of those STX that we traced to CEXs are currently frozen with the relevant exchanges, indicating they will continue to freeze stolen assets pending the police investigations,” Alex Lab mentioned in another post. “The Foundation will make appropriate announcements as soon as these frozen funds can be returned to the affected users.”
According to CoinGecko data, the price of the Alex token had decreased by 3.2% over the past 24 hours at the time of publication.