In response to a recent security breach, Bitcoin bridge provider XLink has announced a strategic partnership with cybersecurity firm Kaamel Technology. The collaboration aims to conduct a thorough investigation into the root cause of the breach, which occurred on May 15 and resulted in the loss of nearly $10 million of user funds.

XLink revealed that Kaamel Technology will lead a comprehensive investigation to identify vulnerabilities and implement measures to prevent future incidents. This initiative underscores XLink's commitment to enhancing the security of its platform and safeguarding user assets.

The partnership with Kaamel Technology is part of XLink's broader efforts to fortify its security infrastructure. The company has accelerated collaborations with cybersecurity firms and is expediting its partnership with Ancilia Inc. to bolster real-time on-chain monitoring capabilities. Ancilia's timely alert about the breach enabled XLink to swiftly respond and prevent additional losses.

Moreover, XLink is working closely with Cobo, its BTC custodian, to strengthen key management processes by migrating to the Cobo MPC infrastructure. This multi-faceted approach underscores XLink's proactive stance in mitigating security risks and ensuring the integrity of its platform.

The recent breach primarily affected XLink's Ethereum and Binance Smart Chain (BSC) endpoints, resulting in approximately $4.3 million in losses. However, swift intervention by a white hat hacker facilitated the recovery of stolen assets, mitigating the impact of the breach.

Following the incident, XLink promptly suspended all bridge operations to facilitate a thorough investigation in collaboration with security experts and Binance representatives. The company urged affected users to revoke any approved spending limits as a precautionary measure.

In a related incident, Bitcoin layer-2 developer Alex Labs, the creator of the XLink bridge, experienced a separate attack on the same day, resulting in the theft of approximately $13.7 million in Stacks (STX) tokens.

As XLink continues to address the aftermath of the security breach, the partnership with Kaamel Technology underscores its commitment to bolstering security measures and restoring user trust. Stay tuned for further updates on XLink's security initiatives as the investigation progresses.