Crypto Exchange FixedFloat Suffers Second Security Breach With $2.80 Million Lost

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The cryptocurrency exchange FixedFloat has fallen victim to a second security breach, resulting in a loss of $2.80 million.

Blockchain forensics firm Cyvers sounded the alarm, revealing that suspicious transactions were detected, leading to the withdrawal of funds from FixedFloat’s hot on the Ethereum (ETH) blockchain.

Crypto Exchange FixedFloat Hacked

FixedFloat’s incident, on April 2, involved the transfer of various digital assets, including ETH, USDT, WETH, , and USDC, to a dubious address. The malicious actors swiftly converted these assets into ETH through a decentralized exchange (DEX) before moving the entirety to eXch.

Following these transactions, the compromised hot wallet ceased operations, and the company’s website was taken offline for maintenance.

The exchange is currently conducting a thorough investigation into the hack. While details remain sparse, FixedFloat aims to enhance its security framework to thwart future attacks. The company reassured its users that it is taking measures to fortify its defenses and mitigate risks.

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