Cryptocurrencies

    Alex Labs halts $3.9 million in hacked funds sent to exchanges

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    Alex Labs, a Bitcoin (CRYPTO:BTC) layer-2 developer team, reported the successful immobilisation of over $3.9 million in cryptocurrencies, which had been illicitly obtained through an exploit of its BNB Smart Chain bridge.

    The attackers had attempted to cash out these funds by dispersing them to various centralised exchanges.

    Due to the cooperation of these exchanges, the stolen assets were successfully frozen, allowing for the recovery of the full balances of 17 different token types.

    The security breach also saw $13.7 million in Stacks (CRYPTO:STX) tokens compromised.

    However, a critical mistake by the attackers in sending approximately 3 million of these to centralised exchanges allowed a portion of the assets to be secured.

    A publicly shared spreadsheet details the distribution of the STX tokens, showing $3.7 million held at several exchanges, with the remaining $9.6 million still controlled by the attackers in private wallets.

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