The post FixedFloat DEX Hacked, Loses $26M Worth Of BTC, ETH appeared on BitcoinEthereumNews.com.

Decentralized cryptocurrency exchange FixedFloat has revealed that it was hacked, with the platform losing $26 million worth of Bitcoin (BTC) and Ethereum (ETH).  Blockchain security firms have confirmed that the attacker has already begun laundering funds through multiple crypto exchanges such as eXch.cx and HiTBTC.  FixedFloat Confirms Hack  The team at FixedFloat confirmed the hack on the 18th of February after several blockchain investigators flagged suspicious transactions and movement of funds. In a post on X, the decentralized exchange refused to make a public comment on the matter.  “We confirm that there was indeed a hack and theft of funds. We are not yet ready to make public comments on this matter, as we are working to eliminate all possible vulnerabilities, improve security, and investigate. Our service will be available again soon.” Users have been reporting stalled transactions and missing funds on the decentralized platform since the 17th of February, posting complaints on the platform’s X profile. According to on-chain data, the hacker drained over 400 BTC worth $21 million and 1700 ETH worth $5 million on the 18th. Interestingly, FixedFloat is often used by hackers who are looking to launder funds.  Website Down As Well  FixedFloat’s official website was also down and displayed an error message on all its pages. The message stated that there was technical work ongoing and that the website would be back online soon. FixedFloat is an automated crypto exchange that does not require user registration or Know Your Customer (KYC) verifications. According to data from SEMrush, around 26% of the site traffic originates from the United States.  Hacker Already Moving Funds  Blockchain security firm PeckShield posted that the hacker had transferred most of the stolen ETH to the eXch exchange.  “#PeckShieldAlert #FixedFloat was hacked, resulting in ~1,728 $ETH (worth ~$4.85m) and & 409 $BTC…

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Filed under: News - @ February 20, 2024 10:26 am