Crypto Exchange FixedFloat Confirms Hack, Loses 26Mn Dollars in Bitcoin, Ether

New Delhi: Decentralised crypto exchange FixedFloat has confirmed a hack that resulted in the theft of Bitcoin and Ether worth at least $26 million. The exchange team confirmed the attack shortly after it was originally reported on X. Initially, the team attributed the massive outflows to "minor technical problems" and put its systems on maintenance.

"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," FixedFloat said. (Also Read: Deepfakes Surge Ahead Of General Elections In South Korea)

Since February 17, several users have reported stalled transactions and missing funds on the company's X page. As per on-chain data, over 400 Bitcoin worth around $21 million and more than 1,700 Ether worth about $5 million were drained on February 18.

In addition, FixedFloat's official website was presently displaying an error message on all pages. FixedFloat is an automated cryptocurrency exchange that does not require user registration or Know Your Customer (KYC) verification. According to SEMrush data, around 26 per cent of their site traffic originates from consumers in the US. (Also Read: Google Launches Second Fund Worth 10Mn Dollars For Ukraine–Based Startups)

Meanwhile, a report by the blockchain intelligence company TRM Labs revealed that threat actors tied to North Korea stole at least 600Mn Dollars in cryptocurrency in 2023.