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FixedFloat reportedly suffers another exploit, losing $2.8m

source-logo  crypto.news 02 April 2024 09:33, UTC

Decentralized crypto exchange FixedFloat has allegedly suffered another hacker attack, losing millions in ETH, USDT, WETH, DAI, and USDC.

Decentralized cryptocurrency exchange FixedFloat, which suffered a $26.1 million hacker attack earlier in February, has apparently been subjected to another exploit, resulting in the loss of nearly $3 million worth of cryptocurrencies on the Ethereum network

🚨ALERT🚨Our system has detected some suspicious transactions with @FixedFloat!

Approximately 14 hours ago, a staggering $2.8M was withdrawn from their hot wallet on the $ETH chain. The funds were directed to a suspicious address, which subsequently received various digital… pic.twitter.com/F671oKR5N6

— 🚨 Cyvers Alerts 🚨 (@CyversAlerts) April 2, 2024

According to data from CyversAlerts, an unknown entity swiftly siphoned $2.8 million worth of Ethereum (ETH), Tether (USDT), Wrapped Ether (WETH), DAI, and USD Coin (USDC) from FixedFloat’s hot wallet on the Ethereum blockchain. The attacker reportedly leveraged eXch, a smart contract for token swapping, to facilitate the illicit transactions.

“The suspicious address promptly swapped these assets into ETH via DEX , before funneling all funds into the eXch exchange. After these transactions, the hot wallet ceased its operations, and the company’s website is currently undergoing maintenance.” CyversAlerts

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As of the time of reporting, FixedFloat has not issued any public statements concerning the matter, and the official website is currently inaccessible due to technical maintenance.

The latest incident marks another successful breach against FixedFloat, following a previous attack in February which saw the exchange losing $26.1 million in unauthorized access to its funds. While the specifics surrounding the nature of the February breach remain undisclosed, the project’s developers had previously downplayed the significance of such incidents, labeling the $26 million hack as a “minor problem.”

Read more: FixedFloat denies internal role in $26m hack, vows to pay pending orders