XLink, a prominent Bitcoin blockchain bridge, is undergoing a revival after being rocked by a security breach resulting in nearly $10 million in losses. Fortunately, a benevolent white hat hacker intervened, managing to recover $4.3 million of the pilfered assets.

The ordeal began when XLink disclosed the security incident on May 15, which targeted its Ethereum and Binance Smart Chain (BSC) endpoints. As the dust settles on May 17, the XLink team gears up to resume normal operations, albeit with a renewed focus on fortifying its defenses.

Initial investigations revealed that the attacker exploited compromised private keys obtained through a phishing scheme. This illicit access granted them control over the BSC and Ethereum endpoints, facilitating unauthorized withdrawals totaling approximately $4.3 million. Despite this setback, XLink's recovery efforts received a significant boost from the intervention of a white hat hacker.

While the recovery on the BSC front has been relatively successful, around $5 million, predominantly in LunarCrush tokens, remain inaccessible on the Ethereum blockchain. However, collaborative efforts between XLink and the LunarCrush team are underway to secure these funds, with a substantial portion already reclaimed or safeguarded.

Despite these strides, residual crypto funds amounting to approximately $500,000 are still trapped on Ethereum. Nonetheless, the majority of these funds have either been recovered or secured, signaling a promising trajectory for XLink's restoration efforts.

In the wake of the breach, XLink swiftly implemented precautionary measures, including the temporary suspension of all bridge operations to facilitate a comprehensive investigation. Working in tandem with security partners such as Ancilia and liaising with their contacts at Binance, the XLink team left no stone unturned in their quest to address the breach and bolster their security posture.

To mitigate further risks to users, XLink issued detailed instructions for Ethereum and BSC users to revoke any approved spending limits associated with compromised contracts. Failure to adhere to these directives could leave users vulnerable to further exploitation by the attacker.

As XLink charts its course toward reopening, vigilance remains paramount for users. Meanwhile, the crypto landscape grapples with another recent exploit, this time targeting pump.fun, a Solana memecoin creation tool. The incident underscores the ever-present challenges of securing decentralized platforms in the face of evolving threats.