Bitcoin blockchain bridge XLink is gearing up for a comeback following a $10 million security breach that prompted its shutdown on May 15. The incident involved a phishing attack that compromised private keys on both Ethereum and BNB Smart Chain networks. XLink quickly announced the breach and aimed to restore normal operations by May 17.
What Led to the XLink Breach?
The attacker leveraged stolen private keys to gain unauthorized control over BSC and Ethereum endpoints, and managed to withdraw around $4.3 million. However, a white-hat hacker intervened and recovered the stolen assets. XLink confirmed that no other endpoints were affected by the breach.
Despite a successful intervention, approximately $5 million, predominantly in LunarCrush tokens, remains secured or locked on the Ethereum blockchain. XLink and LunarCrush teams are collaborating to retrieve these funds, ensuring that the majority of the assets have been either recovered or secured.
How Did XLink Respond to the Incident?
In the wake of the attack, XLink swiftly suspended all operations to conduct a comprehensive investigation with the help of security partners such as Ancilia Inc. and the Binance team. As a precaution, XLink advised users to revoke approved spending limits on the compromised contracts.
Steps for Users to Secure Their Funds
– Users must revoke access to compromised endpoint contracts on both Ethereum and BSC platforms.
– Detailed instructions and links have been provided by XLink for revoking the permissions.
– Failure to revoke these permissions can result in potential losses to the hacker.
As operations resume, it is crucial for users to follow these steps to mitigate risks and protect their funds from further vulnerabilities. Neglecting these measures could expose funds to the attacker, emphasizing the need for immediate action.