Alex Lab Hack Affects SPD Bank Clients Following $8.3M Exploit

Severity: High (Score: 72.5)

Sources: Bitget

Summary

A security breach at the Bitcoin DeFi protocol Alex Lab has impacted clients 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 various stablecoins. Alex Lab has committed to reimbursing affected users from its treasury while collaborating with law enforcement to recover the funds. This breach is part of a broader trend where North Korean cyber units are targeting both DeFi protocols and traditional financial institutions. A previous attack on Alex Lab's cross-chain bridge in 2024 resulted in over $4 million in losses, attributed to the Lazarus Group. Security experts have identified critical flaws in Alex Lab's transaction verification processes, raising concerns about its ability to secure user assets. Regulators are monitoring the situation closely to prevent further contagion in the banking sector. Key Points: • Alex Lab suffered a major security breach on June 6, 2025, losing $8.3 million in digital assets. • Customers of SPD Bank were affected, highlighting the spillover of DeFi vulnerabilities into traditional finance. • North Korean cyber units are increasingly targeting both DeFi and traditional banking systems.

Key Entities

• Kimsuky (apt_group)
• Lazarus Group (apt_group)
• TraderTraitor (malware)
• Data Breach (attack_type)
• Alex Lab (company)
• Shanghai Pudong Development Bank (company)
• Japan (country)
• North Korea (country)
• Singapore (country)
• Stacks (platform)