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CDS Crypto News FixedFloat, a Bitcoin Lightning Exchange, Notices ‘Dubious’ Transactions Worth 3M Dollars to Ethereum and Tron

Crypto News

FixedFloat, a Bitcoin Lightning Exchange, Notices ‘Dubious’ Transactions Worth 3M Dollars to Ethereum and Tron

The website was unavailable due to 'technical work' as of early Tuesday afternoon in Europe.

sevval02/04/20241 Mins read372

Crypto News– In the past 24 hours, transactions deemed suspicious, totaling over $3 million, were detected by security firm CertiK, being sent out of the Bitcoin Lightning-based exchange FixedFloat. CertiK disclosed to CoinDesk via email that the funds were transferred in ether (ETH) and tether (USDT) to wallets on the Ethereum and Tron networks, respectively. Describing the activity as an exploit, CertiK raised concerns about the situation.

FixedFloat, a Bitcoin Lightning Exchange, Notices ‘Dubious’ Transactions Worth 3M Dollars to Ethereum and Tron

As of the early European afternoon hours on Tuesday, FixedFloat’s website is inaccessible due to technical work. Notably, the exchange’s social media accounts have not addressed the withdrawals, and the most recent post on X dates back to March 31.

Approximately $2 million of the funds were deposited in eXch, similar behavior to the FixedFloat incident on 16 Feb, with another $100k USDT deposited to a binance wallet on Tron.
FixedFloat

FixedFloat operates as a fully automated service for exchanging cryptocurrencies and tokens, built on Bitcoin Lightning technology. This technology utilizes micropayment channels atop the main Bitcoin blockchain to facilitate faster and more cost-effective transactions.

A support representative from FixedFloat confirmed to CoinDesk that the exchange encountered a technical error but refrained from commenting on the suspicious transfer activity.

Sources:coindesk

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Şevval has been actively writing since 2022 and is a third-year mathematics student at Ankara University. Her interest in writing is shaped particularly around innovative technologies such as Web3, artificial intelligence, and blockchain. She closely follows developments in these fields and aims to convey complex topics to readers in a clear and engaging manner. She enjoys combining her mathematical knowledge with technology to create content and strives to raise awareness about the digital world of the future.