FixedFloat Crypto Exchange Hacked for $26 Million in Bitcoin and Ether

A decentralized crypto exchange called FixedFloat has been hacked for at least $26 million worth of Bitcoin and Ether, according to on-chain data. The exchange team confirmed the attack on Feb. 18, a few hours after it was first reported on X (formerly Twitter). The team initially attributed the massive outflows to “minor technical problems” and switched its services to maintenance mode.

Users Report Frozen Transactions and Missing Funds

Since Feb. 17, a number of users have reported frozen transactions and missing funds on the exchange’s X page. Some users claimed that they had sent Bitcoin or Ether to the exchange, but did not receive the corresponding amount of the desired cryptocurrency. Others said that they had tried to withdraw their funds from the exchange, but the transactions were stuck or failed.

On-chain data shows that more than 400 Bitcoin (worth around $21 million) and over 1,700 Ether (worth nearly $5 million) were drained from the exchange’s wallets on Feb. 18. The hackers transferred the stolen funds to various addresses, some of which are associated with other crypto exchanges or mixers.

No Clear Indication of How the Attack Was Carried Out

There is no clear indication of how the attack was carried out. The exchange team is reportedly investigating the security incident and working to eliminate all possible vulnerabilities and improve security. The team issued a statement on X, saying:

“We confirm that there was indeed a hack and theft of funds. We are not yet ready to make public comments on this matter, as we are working to eliminate all possible vulnerabilities, improve security, and investigate. Our service will be available again soon. We will provide details on this case a little later.”

In addition, the exchange’s website is currently showing an error message on all pages, preventing users from accessing the platform or contacting the support team.

FixedFloat is an Automated Crypto Exchange with No KYC

FixedFloat is an automated crypto exchange that does not require users’ registration or Know Your Customer (KYC) verifications. Users can exchange various cryptocurrencies, such as Bitcoin, Ether, Litecoin, and Monero, with fast and low-fee transactions. The exchange integrates with the Lightning Network for Bitcoin transactions, allowing users to send and receive Bitcoin instantly and cheaply.

According to data from SEMrush, around 26% of the exchange’s web traffic comes from users in the United States, followed by 12% from Russia, 8% from India, and 6% from Brazil.

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