Reportedly, FixedFloat cryptocurrency exchange falls victim to a $26m cyberattack.
The decentralized cryptocurrency exchange, FixedFloat, appears to have fallen victim to a significant hacker attack resulting in the loss of Bitcoin and Ethereum. The incident was brought to light by blockchain researcher @reprove and subsequently addressed by the FixedFloat team in a post on Feb. 18. While the exact details of the hack have not been disclosed, the developers downplayed its severity, referring to it as a “minor problem.” However, they did acknowledge the loss of at least 1,700 Ethereum (ETH), valued at around $4.7 million at the time.
The incident has led to speculation about the potential involvement of FixedFloat developers in the theft, with some suggesting that an insider may have been responsible for the breach. @reprove hinted at this possibility, implying that a developer could have made off with the stolen cryptocurrency. However, FixedFloat has not released any further statements or updates beyond their initial disclosure.
According to analysts at blockchain security firm CertiK, the total amount of funds stolen may be much higher. They claim that the hacker also drained over $21 million worth of Bitcoin (BTC). The stolen Ethereum funds have reportedly already been transferred through a smart contract called eXch, which facilitates token swapping.
Furthermore, part of the stolen Bitcoin funds has allegedly been sent to Samourai Wallet to utilize CoinJoin transactions. CoinJoin is a method of combining multiple payments from different individuals into a single transaction, thereby mixing the funds.
FixedFloat, which was established in 2019, operates as a non-custodial cryptocurrency exchange that supports Ethereum and Bitcoin transactions, including those conducted through the Lightning Network. Interestingly, earlier this month, analysts at Forta Network discovered that FixedFloat had been involved in financing more than 23% of flash loan attacks, highlighting the platform’s growing prominence within the crypto ecosystem.
