Hackers Steal Millions from Fixed Float
A fully automatic crypto exchange, Fixed Float, had its weekend disturbed when hackers looted millions through a theft. Although the hack has been confirmed, the team is investigating the matter and working on patching up the vulnerabilities.
Were the Hackers Trying to Steal Private Keys?
The cryptographer Officer CIA notified the community about the hacking, reporting a total loss of $26 Million in ETH and BTC. The hacker has already begun laundering the stolen funds through Ethereum-based platforms.
The hacker used a centralized mixer eXch that utilizes thorswap to blur the transaction trail, a common tactic used by hackers.
Many users have reported delays and incomplete transactions on crypto Twitter after Fixed Float was hacked just hours later. Some users were tricked by the hacker into revealing their private keys.
Affirmation by the Team
FixedFloat has officially confirmed the hack and theft and is now focused on strengthening security by addressing all potential vulnerabilities. All services were temporarily halted to deal with the situation.
Conclusion: Don’t Let Your Crypto Sit on Exchanges
Hackers have once again shown that despite various security measures, crypto platforms remain vulnerable to theft. Crypto experts advise keeping unused crypto in cold wallets to reduce the risk of exchange hacks. The community awaits a detailed investigation to understand the cause of the theft and compromise of keys, with hopes for a recovery plan.
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