XLink Partners with Kaamel Technology to Investigate $10M Security Breach
XLink announced a partnership with cybersecurity firm Kaamel Technology on May 20. The collaboration will thoroughly investigate the ‘root cause’ of a data breach on May 15 that involved nearly $10 million of user funds.
XLink stated that Kaamel Technology would conduct a ‘deep investigation’ and take measures to ‘eliminate vulnerabilities and prevent future misconduct.’
XLink disclosed that it has “accelerated” collaborations with cybersecurity firms to strengthen the platform’s defenses against future breaches.
XLink Security Update – May 20, 2024
We are pleased to announce that XLink is taking decisive actions to reinforce the security of our platform. Our first major initiative is the strategic engagement with Kaamel Technology for Incident Response.
In response to the recent… pic.twitter.com/Lk84YdAVCc
— XLink.btc – Bridges All Bitcoin Layer 2s (@XLinkbtc) May 20, 2024
To enhance its security measures further, XLink is expediting its partnership with Ancilia Inc. to boost “real-time on-chain monitoring infrastructure.”
Ancilia played an important role in the recent incident by alerting XLink to the attack, allowing the bridge provider to take swift actions that prevented additional fund losses.
Additionally, XLink is collaborating with Cobo, its BTC custodian, to expand its setup and expedite migrating its web3 key management to the Cobo MPC infrastructure. XLink emphasized that in addition to its partnerships with Cobo, Ancilia, and Kaamel Technology, it plans to announce further partnerships in the future as part of its efforts to enhance the security of its platform.
XLink’s security breach involved its Ethereum and Binance Smart Chain (BSC) endpoints. The breach saw around $4.3 million lost after the attacker
