Bitget Alex Lab Hack Affects SPD Bank Clients After $8.3M Exploit
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- •Alex Lab suffered a major hack resulting in $8.3 million in losses.
- •Customers of SPD Bank were directly affected by the breach.
- •The attack is linked to North Korean cyber operations targeting DeFi and traditional finance.
A security breach at the Bitcoin DeFi protocol Alex Lab has impacted customers of Shanghai Pudong Development Bank (SPD Bank). The incident, which occurred on June 6, 2025, resulted in the loss of approximately $8.3 million in digital assets, including 8.4 million STX and 21.85 sBTC. Alex Lab has stated it will reimburse affected users from its treasury while collaborating with law enforcement to track the stolen funds. This breach is linked to a previous attack in 2024 that drained over $4 million and is associated with North Korea's Lazarus Group. A joint dossier from Japan's Ministry of Foreign Affairs has identified both Alex Lab and SPD Bank as targets of state-sponsored cyber threats. The incident highlights vulnerabilities in the Stacks blockchain's transaction verification process. Regulators are closely monitoring the situation to prevent further contagion in the banking sector.
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