Fixed Float, a cryptocurrency exchange and mixer, recently fell prey to a substantial theft that saw the platform lose an estimated $26 million in Bitcoin (BTC) and Ethereum (ETH). An adept cybercriminal managed to transfer a significant portion of the stolen Ethereum almost immediately after the heist. This incident further highlights the vulnerabilities within the digital currency landscape.
Substantial Digital Assets Compromised
The cyber heist led to the loss of 409 Bitcoins, valued at approximately $21.17 million, alongside 1,728 Ethereums, worth around $4.85 million. Peck Shield Alert revealed that the illicitly acquired Ethereum was swiftly moved to another exchange within the Ethereum network. The current whereabouts or status of the stolen Bitcoin remains undisclosed.
Initial signs of the hack surfaced on platform X, with users reporting halted transactions and unaccounted funds. Subsequently, Fixed Float confirmed the security breach. Initially shrugged off as minor technical difficulties, the platform soon shifted to maintenance mode as the gravity of the incident became clear.
Following the incident, Fixed Float admitted the serious nature of the event, categorizing it as a significant theft of funds. The exchange is currently delving into the breach to pinpoint the origins and method of the attack.
Exchange’s Response to the Breach
In the aftermath, Fixed Float has limited commentary on the investigation, stating efforts are focused on resolving security vulnerabilities and enhancing overall protection measures. The exchange promised to keep users informed, and assured service restoration soon, with details regarding the incident to follow.
Despite assurances, the exchange received negative feedback from users, with some labeling it a scam. Controversially, a user shared a screenshot depicting the Fixed Float team requesting private keys, a move that was justified by the exchange as necessary for verifying Monero (XMR) transactions but has raised suspicions among the community, especially in the wake of the multi-million dollar theft.