XLink, a well-established Bitcoin blockchain bridge, is preparing to make a comeback after it ceased operations on May 15 due to a $10 million hack. The security breach targeted XLink’s Ethereum and BNB Smart Chain (BSC) endpoints. The XLink team disclosed the breach on May 15 and is now preparing to resume normal operations on May 17.
The attacker exploited compromised private keys through a phishing scheme, allowing them to take control of the BSC and Ethereum endpoints and withdraw approximately $4.3 million without authorization. However, XLink has stated that a white hat hacker quickly recovered the stolen assets.
Cointelegraph reached out to XLink for comment but did not receive a response at the time of publication. XLink’s official statement confirmed that only BSC and Ethereum endpoints were affected by the exploit.
While the BSC funds have been recovered, around $5 million worth of LunarCrush tokens remain locked on the Ethereum blockchain. XLink is working closely with the LunarCrush team to secure these funds, and the majority of the $5 million has been either recovered or secured.
XLink promptly suspended all operations on the bridge after the initial incident to conduct a thorough investigation. The investigation was carried out in collaboration with security partners, including Ancilia, and liaisons from the Binance team.
XLink has advised all users who interacted with the compromised contracts to revoke any approved spending limits. Detailed instructions and links have been provided for ETH and BSC users to mitigate further risks to their funds. Users who fail to do so are still at risk of losing their funds to the attacker.
In a separate incident, pump.fun, a Solana memecoin creation tool, was recently hit by an exploit where a former employee allegedly stole nearly $2 million through a “bonding curve” attack. Pump.fun announced that the protocol’s internal systems have been compromised but assured victims that their liquidity will be fully restored.
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