Bitcoin interoperability solution XLink announced on May 20 a strategic partnership with Kaamel Technology as part of its proactive response to a recent security breach. Alongside this collaboration, XLink has expedited efforts with Ancilia and Cobo to bolster the security of its Bitcoin bridge platform against potential future breaches.

Expressing their commitment to reinforcing platform security, XLink revealed that their primary focus is on engaging Kaamel Technology for Incident Response. This partnership aims to conduct a thorough investigation into the root cause of the breach that occurred on May 15, resulting in the loss of nearly $10 million in user funds.

Kaamel Technology will lead an in-depth investigation to identify vulnerabilities and implement measures to both address the current breach and prevent similar incidents in the future. This collaborative effort underscores XLink's dedication to ensuring the integrity and security of its platform.

In addition to partnering with Kaamel Technology, XLink is accelerating its collaboration with Ancilia Inc. to strengthen real-time on-chain monitoring infrastructure. Ancilia's prompt alert regarding the recent attack enabled XLink to swiftly take appropriate mitigation measures, preventing further loss of funds.

Further security enhancements are underway in collaboration with Cobo, XLink's custodian for Bitcoin (BTC) assets. The partnership with Cobo will involve migrating web3 key management to Cobo's MPC infrastructure, known for its robust security measures.

XLink's proactive approach to security includes plans to announce additional partnerships in the future, reinforcing the platform's overall security posture. This multi-pronged strategy, involving partnerships with Cobo, Ancilia, and Kaamel Technology, reflects XLink's steadfast commitment to safeguarding user assets and ensuring the trustworthiness of its platform.

The recent security breach, which resulted in the compromise of Ethereum and BNB Smart Chain endpoints, prompted XLink to intensify its security efforts. The attacker exploited private keys obtained through a phishing scheme, resulting in the withdrawal of approximately $4.3 million. However, a white hat hacker intervened and successfully recovered the stolen assets, mitigating the impact of the breach.

Additionally, Bitcoin layer-2 developer Alex Labs, the creator of the XLink bridge, was targeted in the May 15 attack, resulting in the loss of approximately $13.7 million in Stacks (STX) tokens due to compromised private keys. This incident underscores the importance of proactive security measures and collaborative partnerships in safeguarding cryptocurrency assets against potential threats.