FixedFloat Exchange Loses $26M in Crypto Heist: Bitcoin and Ether Stolen
A hacking incident has resulted in the loss of 409 Bitcoin (valued at approximately $21.3 million) and 1700 ETH (worth around $4.9 million) from the automated DeFi exchange, FixedFloat. The breach was confirmed by the exchange itself after being reported by the blockchain cybersecurity Twitter account Officer’s Notes. FixedFloat has taken immediate action to ensure security and minimize losses, putting the service into maintenance mode. The exchange clarified that user funds were not affected as it does not perform custodial functions. FixedFloat promises to release more information about the attack once the investigation is complete.
FixedFloat Takes Action On Attack
The team at FixedFloat responded to the incident by immediately putting the service into maintenance mode to strengthen security and minimize losses.
- The attack was not internal but rather a result of flaws and insufficient protection in the exchange’s infrastructure.
- FixedFloat cannot provide further details due to an ongoing investigation but promises a full report upon completion.
- Outstanding payment obligations will be fulfilled once the service is resumed and deemed safe.
How Does FixedFloat Work?
FixedFloat is a fully automated exchange that allows anonymous crypto trading without requiring login or KYC details. It operates on Bitcoin’s Layer 2, offering accelerated speeds and lower transaction costs. The exchange has completed over 15 million exchanges between 100,000 customers. It supports 67 different cryptocurrencies and is not a cryptocurrency mixer as wrongly reported by some publications.
Hot Take: Protect Your Crypto Assets with Strong Security Measures
Incidents like the FixedFloat hack serve as a reminder of the importance of securing your crypto assets. To protect yourself:
- Use hardware wallets or cold storage solutions to store your cryptocurrencies.
- Enable two-factor authentication (2FA) on all your crypto accounts.
- Avoid sharing sensitive information or private keys online.
- Regularly update your software and use antivirus programs to protect against malware.
By following these security measures, you can minimize the risk of falling victim to crypto hacks and ensure the safety of your investments.
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