FixedFloat Exchange Targeted by Hackers, $3M Drained in Ethereum, Tron
FixedFloat, a cryptocurrency exchange operating on the Bitcoin Lightning network, disclosed a security breach on the X platform (previously known as Twitter), reporting unauthorised transactions and significant financial losses.
The breach, detected on 2 April, involved the transfer of over $3 million in various digital assets, including ETH, USDT, WETH, DAI, and USDC, to a suspicious address.
Security firms CertiK and Cyvers were among the first to detect the unauthorised transactions, highlighting the urgency of the situation.
The malicious actors swiftly converted the assets into ETH through a decentralised exchange (DEX) before transferring them to eXch.
As a precautionary measure, FixedFloat suspended its hot wallet operations and temporarily took its website offline for maintenance.
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FixedFloat's Second Security Breach This Year
Unfortunately, this breach is not the first for FixedFloat, as the exchange experienced a $26 million security compromise on 16 February.
Despite implementing enhanced security measures since the previous incident, the hackers exploited a vulnerability in a third-party service.
FixedFloat's Measures and Responses
FixedFloat emphasised that the stolen funds were operational liquidity and reassured users that their assets were protected under the exchange's non-custodial service model.
In response to the breach, FixedFloat issued a statement acknowledging the attack and outlined immediate and future security measures.
The exchange pledged to fortify its infrastructure and continuously improve security protocols to prevent similar incidents.
While FixedFloat assured users that their assets remained safe, the breach has prompted a thorough investigation.
Given the potential ramifications for trust and security within the cryptocurrency community, industry experts are closely monitoring the situation.
The recurrence of security breaches raises questions about the efficacy of corrective measures and underscores the challenges exchanges face in safeguarding against sophisticated cyber threats.
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- May 07, 2024 9:54 amDecentralized Exchange FixedFloat Resumes Limited Services After Hacker AttackAccording to Foresight News, the decentralized exchange FixedFloat has announced the resumption of its services, albeit in a limited capacity. Many cryptocurrencies are still not available for exchange, but the platform is gradually restoring its operations. The company has also assured that all obligations related to orders and refunds will be fulfilled as soon as possible. Previously, Foresight News reported that FixedFloat had confirmed a hacker attack. The hackers managed to find a vulnerability in one of the third-party services used by the exchange. FixedFloat stated that the financial loss from this incident only affected its services, as the hackers stole funds that were meant to ensure the liquidity of the service.
- Apr 02, 2024 11:09 pmFixedFloat suffered another attack: company and user funds were not affectedDecentralized exchange FixedFloat said on the services. We successfully withstood their attacks and continue to function normally. However, despite all our efforts, unfortunately hackers managed to discover a vulnerability in a third-party service we use. Although this The third-party attack was beyond our control, but we will still take all necessary measures to strengthen the security of our services and work to prevent similar incidents from happening again in the future. We would like to emphasize that this financial loss only affects us services; the funds stolen by hackers are to ensure the liquidity of the service, that is, the company's funds and user funds have not been affected. We also want to emphasize that FixedFloat does not provide custody services, that is, it does not store user funds. Currently we The matter is being actively investigated. As the investigation is still ongoing, the details of the incident cannot be disclosed." Earlier today, CertiK stated that FixedFloat had issued "suspicious" transactions totaling more than $3 million in the past 24 hours.
- Feb 19, 2024 10:06 pmArkham launches bounty plan for FixedFloat attackAccording to official news, Arkham announced a bounty plan regarding the FixedFloat attack. It is reported that the crypto trading platform FixedFloat was hacked on February 16, 2024, resulting in the theft of more than $25 million. Attacker address: 0x85c4fF99bF0eCb24e02921b0D4b5d336523Fa085 bc1q2skp47p9f5mr4n4m27k66v0l68gh3xdd7ad4e5 This bounty program will provide rewards for information on: -Information that reveals the identity of the FixedFloat attacker; - Any information leading to the successful return of funds. Any information submitted by users participating in this bounty program will be shared with the FixedFloat team.
- Feb 19, 2024 3:08 pmCrypto exchange FixedFloat reportedly suffers $26m hacker attackAutomatic decentralized crypto exchange FixedFloat seemingly suffered a multi-million hacker attack, resulting in a loss of Bitcoin and Ethereum. In an X post on Feb. 18, the FixedFloat team addressed the issue after it was first reported by blockchain researcher… source: https://crypto.news/crypto-exchange-fixedfloat-reportedly-suffers-26m-hacker-attack/
- Feb 19, 2024 12:02 amFixedFloat confirms $26M exploit in Bitcoin, EtherThe crypto exchange team confirmed the attack on Feb. 18, a few hours after the first reports emerged on X (formerly Twitter). source: https://cointelegraph.com/news/fixed-float-confirms-26m-exploit-bitcoin-ether
- Feb 18, 2024 10:05 pmFixedFloat: There is indeed a hacking attack and theft of funds, and an investigation is currently underwayCrypto trading platform FixedFloat responded on the FixedFloat's services will be available again soon and details on this case will be provided later.
- Nov 04, 2023 10:22 amFixedFloat Thwarts North Korean Hacker Group Lazarus' Money Laundering AttemptAccording to Foresight News, cryptocurrency exchange platform FixedFloat announced that it has successfully thwarted a money laundering attempt linked to the North Korean hacker group Lazarus. The team at FixedFloat coordinated efforts over the past three days to freeze the funds involved, which amounted to approximately $2 million.
- Jan 10, 2023 2:16 pmLooksRare: The official Twitter is temporarily frozen after submitting the Twitter Blue service application, which has been reflected to TwitterThe official Chinese Twitter of the NFT trading market LooksRare tweeted that the official Twitter was temporarily frozen after submitting the Twitter Blue service application, and relevant issues have been reported to Twitter. Foresight News previously reported that LooksRare's official Twitter page showed that "the account has been frozen."
- Oct 24, 2022 10:03 amFTX Phishing Attackers Have Transferred Funds to FixedFloat and BinanceSlow Mist MistTrack monitoring shows that the attackers of the FTX phishing incident have transferred the profits to the encrypted exchanges FixedFloat and Binance. Previously, FTX founder Sam Bankman-Fried (SBF) stated that if the attacker returns 95% of the $6 million stolen from the FTX account within 24 hours, "we will exonerate them from responsibility."
- Aug 10, 2022 11:33 amData: Curve attacker transferred nearly 340 ETH to Tornado Cash, FixedFloat and Binance respectivelyPeckShield monitoring shows that Curve attackers have transferred 27.7 ETH to Tornado Cash, 292 ETH to the encrypted exchange FixedFloat, and 20 ETH to Binance. Foresight News reported today that FixedFloat tweeted that 112 ETH of Curve stolen funds had been transferred in, and its security department had frozen some of the funds.
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