In a recent development, decentralized finance (DeFi) cryptocurrency exchange FixedFloat has been targeted by hackers in a high-profile attack, resulting in the theft of over $26 million in bitcoin (btc) and ethereum (eth) from the exchange. The incident came to light through a report by researcher Officer's Notes, which revealed the details of the exploit.
Fixed float hit by major cryptocurrency hack
According According to the Officer's Notes, the hacker responsible for the attack withdrew 1,700 eth from FixedFloat, and the funds were subsequently transferred to an address on the ethereum network. Furthermore, the hacker managed to siphon off approximately $21 million in btc.
In particular, what was stolen eth It was primarily sent to an online exchange called eXchdotch, which employs Thorchain and centralized mixing techniques to obfuscate the origin of the funds.
Additionally, the hacker allegedly attempted to create a fake trail by depositing funds to two HitBTC addresses. However, so far no concrete link has been established between these addresses and the hacker's activities.
FixedFloat, in response to the incident, sure users that their funds were not affected by the hack. The exchange clarified that it does not operate as an escrow service, meaning it does not store user funds.
The team emphasized that the service never asked for users' private keys. However, it is speculated that the hacker may have acquired the private key needed to register a Monero (XMR) transaction.
The investigation into the hack is currently underway and the FixFloat team has committed to releasing more information as it becomes available.
FixFloat Lightning Network Integration
Founded in 2018, FixedFloat emerged as a prominent player in the world of cryptocurrency exchanges, particularly in the realm of Lightning Network integration. The platform's automation capabilities and Lightning Network integration offered a new way for users to transact, providing accelerated speeds and reduced fees.
As FixedFloat marked its fourth anniversary in 2022, it celebrated a series of notable events achievements. With over a million completed orders under its belt, the exchange had attracted a dedicated user base of over 1000 customers who trade daily.
The foundation of FixFloat's success lies in its commitment to the Lightning Network. By leveraging this network, the exchange allows users to transact outside of the main network. block chainresulting in significantly faster transaction speeds and reduced fees.
One of the features of FixedFloat is its non-custodial design, which sets it apart from many other exchanges. Users are not required to go through cumbersome registration processes or know-your-customer (KYC) checks, giving them a frictionless trading experience.
According reportsThis commitment to privacy and user autonomy has resonated with the cryptocurrency community, attracting a loyal user base that appreciates the platform's commitment to decentralization.
Featured image from Shutterstock, chart from TradingView.com
