In order to expedite the previously announced security changes and determine the root cause of the intrusion, XLink has teamed up with Kaamel Technology.
In its first big effort to probe a recent security issue, Bitcoin bridge XLink announced on May 20 that it is collaborating with Kaamel Technology.
A post on X claims that XLink has “increased” its cooperation with Ancilia and Cobo in order to protect the Bitcoin (BTC) bridge platform against impending breaches.
The team here at XLink is happy to share the news that they are working swiftly to beef up our platform’s security. The strategic partnership with Kaamel Technology for Incident Response is our primary endeavour.
A comprehensive investigation into “the underlying cause” of the May 15 breach involving over $10 million in user cash is the goal of XLink’s collaboration with cybersecurity company Kaamel Technology.
As per XLink’s report, Kaamel Technology has promised a “in-depth investigation” and steps to “remove weaknesses and avoid future intrusions.”
In order to improve “real-time on-chain monitoring infrastructure,” the Bitcoin bridge is speeding up its collaboration with Ancilia Inc., as part of XLink’s big project. In order to prevent further theft of cash, Ancilia informed XLink about the latest incident, which allowed the bridge provider to adopt appropriate mitigation measures.
Along with this, we are working with Cobo, XLink’s Bitcoin keeper, to take more measures. “In order to speed up the transition of our web3 key management to the Cobo MPC infrastructure, we are expanding our arrangements with our Bitcoin custodian, [Cobo], whose solid infrastructure protected the aBTC reserve asset.”
XLink said that their strategy involves a number of collaborations, including “Cobo, Ancilia, and Kaamel Technology,” and that they want to announce more partnerships in the near future to “fortify [the] platform’s security.”
A $10 million breach compromised the endpoints of Ethereum and BNB Smart Chain (BSC), which led to XLink’s rapid expansion of security partnerships.
After stealing private keys via phishing, the perpetrator took over $4.3 million; however, a white hat hacker quickly thwarted the attempt and restored the funds.
Another victim of the May 15 hack was Alex Labs, maker of the XLink bridge and a layer-2 Bitcoin wallet. They lost over $13.7 million worth of Stacks STX tokens because of “compromised private keys.”
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