Crypto Exchange Hit by $26.1 Million Hack
A crypto exchange known as FixedFloat appears to have experienced a significant security breach resulting in the loss of $26.1 million worth of Bitcoin and Ethereum, as indicated by blockchain data analysis.
Following the unexpected movement of funds, the exchange has temporarily halted its services and is currently undergoing maintenance.
Specifically, concerning Bitcoin transactions, there has been an irregular transfer of 409 BTC (equivalent to $21.17 million) to a specific address. Similarly, on the Ethereum network, 1,728 ETH (amounting to $4.85 million) was transferred to another address, raising suspicion.
Regarding the incident, FixedFloat has released a statement mentioning, “We have encountered some minor technical issues and have consequently shifted our platform into maintenance mode.”
While the exchange has not officially disclosed the full extent of the security breach, its website indicates ongoing technical work with the message, “We are currently undergoing technical maintenance and will resume services shortly.”
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FixedFloat is recognized as a non-custodial exchange facilitating automated cryptocurrency transactions and also supports the Bitcoin Lightning Network.
It’s worth noting that in August 2022, FixedFloat was involved in the recovery of $200,000 worth of ETH stolen from the decentralized exchange Curve.
Efforts to reach out to FixedFloat for further clarification have been unsuccessful, given the current unavailability of their website’s contact system.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
