Bitcoin DeFi project ALEX has announced that it has completed its asset recovery efforts following a major exploit. The team said the related legal issues have been resolved and that no further recoveries are expected from this point.
According to the update, about 1.6 million STX remains unclaimed in the TGP treasury. ALEX said eligible users can review the relevant details to claim those assets. While the recovery phase appears to be ending, the distribution process is not fully closed as some assets still await user action.
Exploit Details
The incident took place on June 6, 2025, when a vulnerability in ALEX Protocol’s self-listing feature was exploited. The breach resulted in estimated losses of roughly $8.37 million, making it one of the project’s most significant security setbacks in recent memory.
ALEX also noted that the attacker’s wallet has shown no transaction activity since the exploit. That on-chain inactivity provides additional context for the project’s current position, though the team made clear it does not expect any additional asset recovery.
Community Governance Comes Next
ALEX Lab Foundation said it plans to submit a governance proposal within two weeks to discuss what actions should come next. With recovery efforts now concluded and a portion of STX still unclaimed, the proposal is likely to shape how the community handles the remaining issues and broader protocol planning.
For now, ALEX appears to be moving from recovery and legal follow-up into governance and community decision-making. How the proposal addresses unclaimed assets and future protocol steps will likely become the next focal point for users and observers.