Bitcoin bridge XLink is making a comeback following a $10M hack, as reported by TradingView News. The resurrection process is currently underway, signaling a potential recovery for the platform. Stay tuned for more updates on this development in the cryptocurrency world.
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XLink, a well-known Bitcoin blockchain bridge, is making a comeback after being forced to shut down due to a $10 million hack on May 15. The hack targeted XLink’s Ethereum and BNB Smart Chain (BSC) endpoints, leading to the unauthorized withdrawal of around $4.3 million by exploiting compromised private keys in a phishing scam.
Fortunately, a white hat hacker was able to recover the stolen assets, bringing some relief to the situation. However, approximately $5 million in LunarCrush tokens remain locked on the Ethereum blockchain. Despite this setback, XLink and the LunarCrush team are working together to secure these funds, with the majority already being recovered or secured.
Additionally, around $500,000 worth of residual crypto funds are still locked on Ethereum, but efforts are underway to retrieve or secure the majority of these funds. The XLink team is gearing up to resume normal operations after taking a brief pause to address the security breach, ensuring that their users’ assets are safe and secure.
In a statement, XLink assured the public that no other endpoints were affected by the exploit, focusing solely on the BSC and Ethereum platforms. The team is committed to maintaining transparency and security to prevent any future breaches and continue providing reliable services to their users.
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1. What is the Bitcoin bridge XLink?
It’s a platform that allows users to trade cryptocurrencies and digital assets securely.
2. What does it mean that the resurrection is underway after a $10M hack?
It means that the platform is being restored and rebuilt after a significant security breach.
3. Is my money safe on XLink after the hack?
The team is working to enhance security measures to protect user funds moving forward.
4. How can I access my account after the resurrection?
You can log in using your existing credentials once the platform is back up and running.
5. When will XLink be fully operational again?
The team is working diligently to restore functionality, but an exact timeline has not been provided yet.
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