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Hackers Drain Over $26 Million in Bitcoin and Ether from FixedFloat Exchange

Key Takeaways

  • FixedFloat confirmed a hack resulting in the theft of $26 million in Bitcoin and Ether.
  • The exact method of the attack remains under investigation, with the exchange taking immediate steps towards recovery and security enhancement.
  • The incident adds to the growing list of security challenges faced by the crypto industry, highlighting the need for heightened vigilance and improved protective measures.
Hackers Drain Over $26 Million in Bitcoin and Ether from FixedFloat Exchange

FixedFloat, a decentralized cryptocurrency exchange, has confirmed a hack that resulted in the theft of at least $26 million in Bitcoin and Ether. 

The breach was initially brought to light through user reports on X, with FixedFloat acknowledging the incident shortly after.

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Initially, the situation was described as a minor technical problem, and the exchange shifted into maintenance mode to address the security lapse. However, on February 18, FixedFloat confirmed there had been a hack and theft of funds.

Detailed on-chain analysis revealed the theft of more than 400 Bitcoin and 1,700 Ether, cumulatively valued at approximately $26 million.

The method behind the hack remains undisclosed. The FixedFloat team is investigating the breach and cannot provide further comments yet.

The FixedFloat hack marks another chapter in the ongoing battle against cyber threats in the cryptocurrency industry. As the platform vows to enhance its defenses and transparency, the crypto community awaits further details on the breach and measures to prevent future exploits.

In other news related to crypto exploits, Binance and Bitfinex successfully thwarted attempted exploits earlier this year.

Aaron S., Editor-In-Chief
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

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