FixedFloat Crypto Exchange Hit by $26.1 Million Bitcoin and Ether Hack, Plunges into Maintenance Mode

FixedFloat Crypto Exchange Hit by $26.1 Million Bitcoin and Ether Hack, Plunges into Maintenance Mode

Crypto News – Crypto exchange FixedFloat appears to have fallen victim to a significant breach, with reports suggesting a staggering loss of $26.1 million in bitcoin and ether, as indicated by on-chain data. Following the unexpected movement of funds, the exchange has been forced into maintenance mode and currently remains inaccessible.

On the Bitcoin blockchain, suspicious activity was detected, involving the transfer of 409 bitcoin, valued at approximately $21.17 million, to an undisclosed address. Similarly, on the Ethereum network, a comparable movement occurred, with 1,728 ether, totaling $4.85 million, being transferred to a separate address.

In response to inquiries, FixedFloat vaguely stated, “We encountered some minor technical problems and have switched our service to maintenance mode,” offering little clarity on the situation. Despite widespread speculation, the exchange has refrained from confirming the full extent of the exploit, with its website merely stating, “Technical work is underway, we will be back soon.”

FixedFloat, known for its non-custodial exchange services facilitating automated cryptocurrency transactions, notably supports the Bitcoin Lightning Network. However, this incident casts a shadow on its security measures.

In a previous incident in August 2022, FixedFloat aided in the recovery of $200,000 worth of ether stolen from the decentralized exchange Curve, showcasing its involvement in combating fraudulent activities within the crypto space.

Efforts to seek clarification or comment from FixedFloat have proven futile, as the contact system on its website remains inaccessible, leaving users and stakeholders in the dark regarding the situation’s resolution.