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A Cryptocurrency Exchange Allegedly Experienced a $26 Million Hack Incident

source-logo  en.bitcoinsistemi.com 18 February 2024 16:45, UTC

According to a security researcher using the handle Officer's Notes, a cryptocurrency exchange called FixedFloat was hacked and lost 1,700 ETH (worth approximately $4.85 million at the time of writing) of its users' funds.

However, on-chain data reports that current losses are around $26.1 million in Bitcoin and Ethereum.

Officer's Notes wrote on Twitter today that FixedFloat was either hacked by a hacker or the developer ran off with the money, and shared the address of the person who allegedly withdrew the money: 0x85c4fF99bF0eCb24e02921b0D4b5d336523Fa085. He also criticized the team for calling the attack a “minor technical issue” and not informing users about the breach.

Some users also reported on Twitter that they could not complete their transactions on FixedFloat and their funds were stuck. FixedFloat told one of the users that they had encountered some minor technical issues and had put their service into maintenance mode, but did not specify when it would be fixed.

FixedFloat is known as a non-custodial cryptocurrency exchange that provides automated exchange of cryptocurrencies. The exchange is known for offering support for the Bitcoin Lightning Network.

*This is not investment advice.