Automatic Decentralized Crypto Exchange FixedFloat Suffers Multi-Million Dollar Hack
An automatic decentralized crypto exchange called FixedFloat has recently experienced a significant hacker attack, resulting in the loss of Bitcoin and Ethereum. The team behind FixedFloat addressed the issue after it was reported by a blockchain researcher, confirming a loss of at least 1,700 Ethereum, valued at approximately $4.7 million.
Potential Involvement of FixedFloat Developers
Speculation has arisen regarding the potential involvement of FixedFloat developers in the theft. Some suggest that an insider may have been behind the breach. However, no additional statements or updates have been released by FixedFloat to address these suspicions.
Hacker’s Activities and Stolen Funds
Analysts at blockchain security firm CertiK state that the hacker also drained over $21 million worth of Bitcoin. The stolen Ethereum funds have already been transferred through a smart contract called eXch. Additionally, part of the stolen Bitcoin funds has reportedly been sent to Samourai Wallet for CoinJoin transactions.
About FixedFloat
Established in 2019, FixedFloat is a non-custodial cryptocurrency exchange that supports Ethereum and Bitcoin transactions, including those made through the Lightning Network. The platform has gained prominence within the crypto ecosystem and was recently found to have financed over 23% of flash loan attacks by analysts at Forta Network.
Hot Take: Protecting Your Crypto Assets
As a crypto enthusiast, it’s essential for you to take precautions to protect your assets from potential hacks:
- Create strong and unique passwords for your crypto accounts.
- Enable two-factor authentication whenever possible.
- Regularly update your devices and software to ensure the latest security patches are applied.
- Consider using hardware wallets for storing your cryptocurrencies.
- Exercise caution when interacting with unfamiliar websites or applications.
By following these practices, you can enhance the security of your crypto assets and minimize the risk of falling victim to hacks or theft.
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