Million

LunarCrush

Planet

Security

<div class="intro-text"> 
 &nbsp;Bitcoin blockchain bridge XLink is set to resume operations after a $10 million <a style="color: #0000ff;" href="https://twitter.com/XLinkbtc/status/1790545326555770896?t=HRGjppJGbv8HAxU5uF4a5w&amp;s=19">security breach</a> forced it to shut down. 
</div> 
In a recent <a style="color: #0000ff;" href="https://x.com/XLinkbtc/status/1791313720619983097">announcement</a>, the project’s team urged users to check that their wallets have revoked access to the old compromised endpoint contracts. They noted that this step would help terminate connections with the compromised contract and mitigate associated risks. 
The security breach was <a style="color: #0000ff;" href="https://x.com/XLinkbtc/status/1790545326555770896">reported </a>on May 15 and affected the bridge’s Ethereum and BNB Smart Chain (BSC) endpoints. According to the XLink team, the breach stemmed from a phishing scheme that compromised private keys, allowing the attacker to control the BSC and Ethereum endpoints and withdraw approximately $4.3 million without authorization.&nbsp; 
Fortunately, a white-hat hacker <a style="color: #0000ff;" href="https://twitter.com/XLinkbtc/status/1790545326555770896?t=RSdzA1ocKu6Dcg75YI-mzQ&amp;s=19">intervened</a> and recovered the stolen assets. Despite the swift recovery of the BSC funds, around $5 million worth of LunarCrush tokens remain locked on the Ethereum blockchain.&nbsp; 
The LunarCrush team is collaborating closely with XLink to secure these assets. XLink <a style="color: #0000ff;" href="https://twitter.com/XLinkbtc/status/1791034653236724043?t=ATnIErA5WKy_AOPHT4F3JA&amp;s=19">confirmed</a> that “the majority of the $5 million has been recovered or secured,” with residual crypto funds worth about $500,000 still locked on Ethereum. 
In response to the breach, XLink temporarily <a style="color: #0000ff;" href="https://twitter.com/XLinkbtc/status/1790545326555770896?t=5XJr3O1gyHrQPRhWaDOUSg&amp;s=19">suspended</a> all operations to conduct a thorough investigation. The investigation, conducted in partnership with Ancilia Inc. and Binance team liaisons, aimed to identify and mitigate the vulnerabilities exploited in the attack. 
The project team has assured users that only BSC and Ethereum endpoints were affected by this exploit. They <a style="color: #0000ff;" href="https://x.com/XLinkbtc/status/1791152014245888428">advised </a>users who interacted with the compromised contracts to revoke any spending limits they had approved. The team provided <a style="color: #0000ff;" href="https://twitter.com/XLinkbtc/status/1791313720619983097?t=yXgWc8bC9iCnRQl7TUXkLg&amp;s=19">detailed instructions</a> and links for ETH and BSC users to mitigate further risk to their funds.&nbsp; 
<blockquote class="pullquote align-center">
 “It is urgent that Ethereum and BSC users check that their wallets have revoked access to the old compromised endpoint contracts,” 
</blockquote> 
the project’s team <a style="color: #0000ff;" href="https://twitter.com/XLinkbtc/status/1791313720619983097?t=yXgWc8bC9iCnRQl7TUXkLg&amp;s=19">emphasized</a>, warning that failure to do so could result in further losses. 
As XLink prepares to reopen, another blockchain-related exploit has come to light. Pump.fun, a Solana memecoin creation tool, <a style="color: #0000ff;" href="https://twitter.com/pumpdotfun/status/1791235050643636303?t=CqxqSCoPpHQ81wifW1PaVA&amp;s=19">reported</a> on May 16 that a former employee had stolen nearly $2 million through a “bonding curve” attack. The company has since secured its smart contracts and promised to restore “100% of [victims’] liquidity.” 
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The post <a href="https://defi-planet.com/2024/05/xlink-to-resume-operations-after-10-million-security-breach-urges-users-to-revoke-old-contract-access/">XLink to Resume Operations After $10 Million Security Breach, Urges Users to Revoke Old Contract Access</a> appeared first on <a href="https://defi-planet.com">DeFi Planet</a>.

XLink to Resume Operations After $10 Million Security Breach, Urges Users to Revoke Old Contract Access

DeFi Planet

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