The XLink Bitcoin blockchain bridge is gearing up for a resurgence following a $10 million hack that forced its closure on May 15. XLink fell prey to a security breach involving the Ethereum and BNB Smart Chain networks, leading to unauthorized withdrawals totaling approximately $4.3 million. The breach, attributed to an exploitation of private keys obtained through a phishing scheme, prompted the XLink team to announce the incident on May 15, with operations set to resume by May 17.

Unveiling the Recovery Efforts at XLink
Despite the swift recovery on the BNB Smart Chain network, a significant portion of funds, primarily LunarCrush tokens, amounting to around $5 million, remains locked on the Ethereum blockchain. Collaborating closely with the LunarCrush team, XLink is diligently working to secure these assets, with a substantial portion of the $5 million already recovered or safeguarded. While approximately $500,000 worth of crypto funds are still inaccessible on Ethereum, proactive measures are in place to address this remaining challenge and ensure the safety of users' assets.

Delving into the Investigation Process
In response to the security breach, the XLink team promptly sprang into action, suspending all bridge operations to conduct a comprehensive investigation. Working in tandem with security partners such as Ancilia Inc. and members of the Binance team, XLink meticulously scrutinized the breach to identify vulnerabilities and fortify its defenses. The team urged all users engaged with the compromised contracts to revoke their approved spending limits, providing detailed instructions and links for Ethereum and BNB Smart Chain users to mitigate potential risks to their funds.

As XLink prepares to resume operations, Ethereum and BNB Smart Chain users are urged to take immediate action by revoking access to the compromised endpoint contracts. This critical step is essential to sever any connections with the compromised contract and safeguard against potential threats posed by the attacker. Failure to adhere to these security measures may expose users to the risk of losing their funds to malicious actors, underscoring the importance of proactive risk management in the cryptocurrency space.