CertiK reports that the Alex protocol bridge on BNB Smart Chain experienced suspicious withdrawals totaling $4.3 million following a sudden contract upgrade.

The protocol, known for providing decentralised finance applications on Bitcoin (CRYPTO:BTC), saw multiple tokens drained, including Binance-Pegged Bitcoin, USD Coin, and Sugar Kingdom Odyssey.

CertiK suspects a possible private key compromise due to the upgrades initiated by the protocol's deployer account, leading to transfers into unverified contracts.

Similar suspicious activities were observed on Ethereum (CRYPTO:ETH) shortly after the BNB Smart Chain incident, suggesting coordinated attempts to exploit vulnerabilities across multiple networks.

As investigations continue, concerns over security vulnerabilities in decentralised finance protocols persist in the crypto community.