Decentralized cryptocurrency exchange FixedFloat has revealed that it was hacked, causing the platform to lose $26 million worth of Bitcoin (BTC) and Ethereum (ETH).
The blockchain security company confirmed that the attackers have already started laundering money through several cryptocurrency exchanges such as eXch.cx and HiTBTC.
Check out the hack at FixFloat
The FixFloat team confirmed the hack on February 18 after several blockchain investigators noted suspicious transactions and fund movements. In a post about X, the decentralized exchange declined to comment publicly on the matter.
“We confirm that there was indeed a hacking and theft of funds. We are not prepared to comment publicly on this matter yet as we are working to eliminate any possible vulnerabilities, improve security, and investigate. Our services will be available again soon.”
Users have been reporting trading outages and missing funds on the decentralized platform since February 17, posting complaints on the platform’s X profile. According to on-chain data, hackers stole more than 400 BTC worth $21 million and 1,700 ETH worth $5 million on the 18th. Interestingly, FixFloat is often used by hackers looking to launder money.
Website is also down
FixFloat’s official website was also down, with error messages displayed on all pages. The message stated that technical work was ongoing and the website would be back online soon. FixFloat is an automated cryptocurrency exchange that does not require user registration or know-your-customer (KYC) verification. According to data from SEMrush, approximately 26% of the site’s traffic comes from the United States.
Hackers are already moving funds.
Blockchain security company PeckShield posted that hackers moved most of the stolen ETH to the eXch exchange.
“#PeckShieldAlert #FixedFloat was hacked and ~1,728 $ETH (~$4.85m worth) and 409 $BTC (~$21m worth) were stolen. The leaker has already moved most of the stolen $ETH to #eXch on #Ethereum.”
Others, such as Web3 threat researcher Officer’s Notes, dug a little deeper and found that in addition to multiple deposits to eXch, the FixFloat attackers also moved funds to HitBTC.
“Perhaps FixFloat Drainer decided to confuse its tracks by framing the innocent owners of these deposit addresses. Anything is possible. I don’t see any addresses (except the hacker’s address) connecting these two HitBTC deposit addresses (when analyzing ETH and token transactions). Perhaps the hacker just created a false trail.”
There is no end to cryptocurrency attacks
According to DeFi Rekt, there have already been seven major cryptocurrency attacks and hacks this month alone. On February 9, gaming and metaverse platform PlayDapp fell victim to an access control attack, resulting in a loss of $32 million. Just a few days later, on February 13, Duelbuts also fell victim to an access control attack, losing $4.6 million as a result of the hack.
Disclaimer: This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.