Kaamel Technology Leads XLink’s $10 Million Breach Investigation
Bitcoin bridge XLink announced on May 20 that it is partnering with Kaamel Technology as part of its first major initiative to investigate recent security breaches.
In parallel with this partnership, XLink has “accelerated” its work with Ancilia and Cobo to protect the Bitcoin (BTC) bridge platform from future breaches, according to X’s post.
We are pleased to announce that XLink is taking decisive action to strengthen the security of our platform. Our first major initiative is our strategic engagement with Kaamel Technology for incident response.
Cybersecurity firm Kaamel Technology’s partnership with XLink aims to thoroughly investigate the “root causes” of the May 15 breach, which cost nearly $10 million in user funds.
According to XLink, Kaamel Technology will conduct an “in-depth investigation” and implement measures to “eliminate vulnerabilities and prevent future breaches.”
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As part of XLink’s key initiatives, the Bitcoin bridge is accelerating its partnership with Ancilia Inc. to enhance its “real-time on-chain monitoring infrastructure.” Ancilia alerted XLink to the recent attack so the bridge provider could take appropriate mitigation measures before additional funds were stolen.
Additional steps are also being taken in collaboration with Cobo, XLink’s BTC custodian.
(Cobo) A BTC custodian with a robust setup securing reserve assets for aBTC is being expanded to rapidly migrate web3 key management to the Cobo MPC infrastructure.
XLink explained that this includes partnerships with “Cobo, Ancilia, and Kaamel Technology,” along with plans to announce additional partnerships in the future in an effort to “enhance the security of our platform.”
The $10 million hack, which prompted the development of XLink’s broader security partnerships, included the compromise of Ethereum and BNB Smart Chain (BSC) endpoints.
The attackers withdrew approximately $4.3 million after obtaining private keys through a phishing scam, but were soon stopped by white hackers who recovered the stolen assets.
Bitcoin Layer 2 developer Alex Labs, creator of the
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