Hackers Drain Over $26M in Bitcoin and Ether from FixedFloat

Hackers Drain Over $26 Million in Bitcoin and Ether from FixedFloat Exchange

Written by Aaron S.,

Editor-In-Chief

Last Updated: February 19, 2024

Key Takeaways

FixedFloat confirmed a hack resulting in the theft of $26 million in Bitcoin and Ether.
The exact method of the attack remains under investigation, with the exchange taking immediate steps towards recovery and security enhancement.
The incident adds to the growing list of security challenges faced by the crypto industry, highlighting the need for heightened vigilance and improved protective measures.

FixedFloat, a decentralized cryptocurrency exchange, has confirmed a hack that resulted in the theft of at least $26 million in Bitcoin and Ether.

The breach was initially brought to light through user reports on X, with FixedFloat acknowledging the incident shortly after.

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Initially, the situation was described as a minor technical problem, and the exchange shifted into maintenance mode to address the security lapse. However, on February 18, FixedFloat confirmed there had been a hack and theft of funds.

Detailed on-chain analysis revealed the theft of more than 400 Bitcoin and 1,700 Ether, cumulatively valued at approximately $26 million.

The method behind the hack remains undisclosed. The FixedFloat team is investigating the breach and cannot provide further comments yet.

The FixedFloat hack marks another chapter in the ongoing battle against cyber threats in the cryptocurrency industry. As the platform vows to enhance its defenses and transparency, the crypto community awaits further details on the breach and measures to prevent future exploits.

In other news related to crypto exploits, Binance and Bitfinex successfully thwarted attempted exploits earlier this year.