Bitcoin DeFi hack at Alex Lab affects SPD Bank customers amid $8.3M loss and North Korean cyber links

A security breach at Bitcoin DeFi protocol Alex Lab on June 6 led to an $8.3 million loss of digital assets and impacted customers of Shanghai Pudong Development Bank (SPD Bank). The exploit exposed a critical flaw in Alex Lab's transaction verification, marking another in a series of breaches linked to North Korean cyber groups like Lazarus. Alex Lab pledged to reimburse users from its treasury and is cooperating with law enforcement. The incident highlights growing risks as North Korean hackers blend attacks on DeFi platforms and traditional banks, prompting scrutiny from regulators and market watchers on Alex Lab's security and Chinese authorities' response to protect banks from crypto-related threats.