In the wake of a significant security breach involving nearly $10 million in user funds, Bitcoin bridge XLink has embarked on a strategic partnership with cybersecurity firm Kaamel Technology to conduct a comprehensive investigation into the breach's root cause. This collaboration marks XLink's proactive response to safeguarding its platform against future vulnerabilities.

Announced on May 20, XLink's initiative underscores a commitment to fortifying its security infrastructure in the aftermath of the breach. The partnership with Kaamel Technology aims to delve deep into the incident, identifying key factors that led to the breach while implementing robust measures to mitigate risks and prevent similar breaches from occurring in the future.

As part of its concerted efforts, XLink has expedited collaborations with Ancilia and Cobo, further enhancing its security posture. Ancilia's real-time on-chain monitoring infrastructure played a pivotal role in alerting XLink to the breach, enabling swift mitigation actions to prevent further loss of funds.

Additionally, XLink is bolstering its partnership with Cobo, its BTC custodian, to reinforce its key management infrastructure using Cobo's MPC (Multi-Party Computation) technology, ensuring heightened security measures for its assets.

The breach, which occurred on May 15, involved the compromise of Ethereum and Binance Smart Chain (BSC) endpoints, leading to the unauthorized withdrawal of approximately $4.3 million. The attacker exploited private keys obtained through a phishing scheme. However, swift intervention by a white hat hacker helped recover the stolen assets, mitigating the impact of the breach.

In a parallel incident, Bitcoin layer-2 developer Alex Labs, the creator of the XLink bridge, also fell victim to an exploit on May 15, resulting in the siphoning of around $13.7 million in Stacks tokens due to compromised private keys.

XLink's proactive approach to security, evidenced by its collaboration with Kaamel Technology and other strategic partners, underscores its commitment to safeguarding user assets and bolstering the integrity of its platform. Moving forward, XLink remains dedicated to forging additional partnerships aimed at further fortifying its security framework and ensuring a resilient and secure environment for its users.