Crypto Exchange FixedFloat Hacked
FixedFloat’s incident, detected on April 2, involved the transfer of various digital assets, including ETH, USDT, WETH, DAI, and USDC, to a dubious address. The malicious actors swiftly converted these assets into ETH through a decentralized exchange (DEX) before moving the entirety to eXch.
Following these transactions, the compromised hot wallet ceased operations, and the company’s website was taken offline for maintenance.
Unfortunately, this security breach is not the first for FixedFloat. On February 16, the crypto exchange experienced a security compromise that led to a loss of $26 million.
Read more: Identifying & Exploring Risk on DeFi Lending Protocols
Read more: 14 Best No KYC Crypto Exchanges in 2024
FixedFloat acknowledged the breach, attributing it to the same adversaries responsible for the February incident. Despite heightened security measures taken since the last attack, the hackers exploited a vulnerability in a third-party service.
The crypto exchange emphasized that the stolen funds served as operational liquidity for the service. It also assured that the non-custodial service model of FixedFloat protected user assets from direct impact.
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