Ethereum

Bitcoin

DeFi

LunarCrush

XLink, a Bitcoin blockchain bridge, is set to resume operations after shutting down on May 15 due to a $10 million hack. The breach involved XLink’s Ethereum and BNB Smart Chain (BSC) endpoints. The incident was disclosed by the XLink team early on May 15. 
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 XLink Bridge Incident Update: We recently identified a security issue on the XLink Bridge. Our team acted swiftly to shut down the attack vector. XLink endpoints on Ethereum and BNB were compromised. Endpoints on other chains, including the Bitcoin multisig, are not affected.…— XLink.btc – Bridges All Bitcoin Layer 2s (@XLinkbtc) <a href="https://twitter.com/XLinkbtc/status/1790545326555770896?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">May 15, 2024</a>
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The hacker used a phishing scheme to steal private keys, allowing them to control the BSC and Ethereum endpoints and withdraw $4.3 million. A white hat hacker recovered the stolen assets. Despite the recovery on BSC, around $5 million, mainly in LunarCrush tokens, is still locked on the Ethereum blockchain. The LunarCrush team is actively working with XLink to secure these funds, with the majority already recovered or secured. About $500,000 in residual crypto funds are still locked on Ethereum. 
In response to the hack, XLink quickly <a href="https://x.com/XLinkbtc/status/1790545326555770896" target="_blank">suspended </a>all bridge operations to conduct a thorough investigation. This investigation was carried out with the assistance of their security partners, including Ancilia, and liaisons from the Binance team. 
XLink has advised users who interacted with compromised contracts to revoke any approved spending limits, providing detailed instructions and links for ETH and BSC users to mitigate further risks. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also read: <a href="https://www.cryptotimes.io/2024/05/17/solana-defi-platform-pump-fun-suffers-2m-exploit/">Solana DeFi Platform Pump. Fun Suffers $2M Exploit</a> 
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XLink Bitcoin Bridge Resumes After $10M Hack Recovery

The Crypto Times

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