Alex Lab, a Bitcoin DeFi platform, has recently updated its community following a security breach on one of its platforms.

They've set up a dedicated page for users to confirm their liquidity provider positions, an essential move as the team gears up to distribute the recovered assets and initiate a treasury grant.

It's important to highlight that several pools remain unaffected by this incident and are excluded from the LP verification process. These include the xUSD/USDA stableswap, legacy pools such as

STX/ALEX,

STX/xBTC,

STX/sUSDT,

and others like ALEX/Banana, ALEX/USDA, ALEX/DIKO, and STX/Welsh.

Previously, Alex Lab faced a significant setback when hackers stole $4.3 million. The subsequent investigation and dialogue with security experts indicated that reaching an agreement with the perpetrator was improbable. As a result, Alex Lab is working closely with law enforcement to pursue the recovery of funds and track down the responsible party.

Moreover, the Alex Lab Foundation is allocating its ALEX reserves to establish a treasury grant program.

The immediate focus is on retrieving approximately 13.7 million STX and creating a support mechanism for those impacted by the breach.

This proactive approach underscores Alex Lab's commitment to its user base and the security of its platform.#buythedip #BTC #write2earnonbinancesquare #write2earn $BTC #MicroStrategy