As a long-term crypto investor with a painful memory of losing funds in past hacks, I can’t help but feel a mix of relief and concern upon hearing about XLink’s latest security partnerships and incidents.
XLink has teamed up with Kaamel Technology to enhance its cybersecurity protections, following a May 15 security breach that resulted in a $10 million loss of user funds. In response, Kaamel Technology, which focuses on privacy and cybersecurity concerns, will conduct a comprehensive survey to pinpoint the causes of the incident and prevent future occurrences.
I’m pleased to share that XLink is deepening its alliance with Ancilia Inc., which has been instrumental in enhancing our real-time on-chain monitoring capabilities. Ancilia’s quick alert during the recent cyberattack helped us minimize additional losses. Furthermore, we are broadening our collaboration with Cobo, our BTC custodian. The solidity of Cobo’s infrastructure shielded our reserve assets during the security breach. Moving forward, this partnership will concentrate on transitioning XLink’s web3 key management to the secure Cobo Multi-Party Computation (MPC) infrastructure for added protection.
XLink temporarily halted its merchant functions to collaborate with ex-security specialists and Binance team members in investigating a phishing incident. The attack resulted in the transfer of private keys from both Ethereum and BSC interfaces of XLink. A significant amount of stolen assets was recovered by ethical hackers.
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2024-05-21 01:24