Bitcoin Bridge XLink Strengthens Security After Data Breach 🛡️
XLink recently partnered with cybersecurity firm Kaamel Technology following a security breach on May 15 involving almost $10 million in user funds. The collaboration aims to identify the root cause of the breach and enhance security measures to prevent future incidents.
- The partnership with Kaamel Technology involves a deep investigation to eliminate vulnerabilities.
- XLink is accelerating collaborations with security firms to fortify its platform defenses.
XLink’s Recovery of Stolen Assets 💰
The security breach affected XLink’s Ethereum and Binance Smart Chain endpoints, leading to a loss of around $4.3 million. However, prompt action by a white hat hacker resulted in the recovery of the stolen assets.
- The breach only impacted the BSC and Ethereum endpoints, with other endpoints remaining secure.
- XLink suspended operations on the bridge to investigate the incident with security experts and Binance liaisons.
Partnerships & Further Security Measures 🤝
In addition to collaborating with Kaamel Technology, XLink is expediting partnerships with Ancilia Inc. and Cobo to enhance security measures:
- Ancilia alerted XLink to the attack, enabling swift actions to prevent more fund losses.
- Collaboration with Cobo aims to migrate web3 key management to Cobo MPC infrastructure.
- Further partnerships are planned to enhance the overall security of the platform.
Hot Take: Securing the Future of XLink 🔒
XLink’s proactive approach to security with strategic partnerships and swift response to breaches demonstrates a commitment to protecting user funds and maintaining a secure platform for all stakeholders. By leveraging expertise from cybersecurity firms and fostering collaborations with key industry players, XLink is setting a new standard for security in the crypto space.
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