Bitcoin bridge XLink resurrection underway post $10M hack
The attacker exploited compromised private keys via a phishing scheme that allowed them to control the BSC and Ethereum endpoints and withdraw around $4.3 million without authorization. However, according to XLink, the stolen assets were recovered soon after by a whitehat hacker
XLink, a well-established Bitcoin blockchain bridge, is preparing for a comeback after it shut down on May 15 due to a $10 million hack.
XLink became the victim of a security breach involving its Ethereum and BNB Smart Chain (BSC) endpoints. The XLink team first disclosed the breach in the early hours of May 15, which is now coming to a close on May 17 as the team prepares to resume normal operations.
The attacker exploited compromised private keys via a phishing scheme that allowed them to control the BSC and Ethereum endpoints and withdraw around $4.3 million without authorization. However, according to XLink, the stolen assets were recovered soon after by a whitehat hacker.
Cointelegraph reached out to XLink for comment, but had not received a response by publication. "No endpoints other than BSC and Ethereum were affected by this exploit," the company's official statement said.
Despite the recovery on the BSC, approximately $5 million in mostly LunarCrush tokens remain locked on the Ethereum blockchain. However, the LunarCrush team is working closely with XLink to secure these funds — the majority of the $5 million has been "recovered or secured."
Another $5 million worth of funds are locked on Ethereum, mainly LunarCrush tokens. The @LunarCrush team, in close coordination with the XLink team, has implemented measures to secure those tokens.
According to XLink, residual crypto funds worth around $500,000 are still locked on Ethereum, but a majority of the funds have been either recovered or secured.
