The decentralized crypto exchange FixedFloat has fallen victim to a second significant hacking incident. This recent security breach has led to the loss of around $3 million in various cryptocurrencies, including Ethereum (ETH), Tether (USDT), Wrapped Ether (WETH), DAI, and USD Coin (USDC). The attack targeted the exchange’s hot wallet on the Ethereum blockchain.
CyversAlerts, a cybersecurity monitoring service, was the first to report the incident. They revealed that an unidentified hacker managed to drain $2.8 million from FixedFloat’s hot wallet. The hacker used a smart contract known as eXch, designed for swapping tokens, to carry out the unauthorized transactions swiftly.
At the time of writing, FixedFloat has not commented on the breach. Attempts to access the exchange’s official website are met with a notice of ongoing technical maintenance. This silence raises concerns among users and investors about the security measures in place at FixedFloat.
This breach follows a significant hacking event in February, where FixedFloat suffered a loss of $26.1 million. The exchange had previously minimized the impact of the February attack, calling it a “minor problem.” However, the recurrence of such a substantial security issue in a short period raises serious questions about the robustness of FixedFloat’s security protocols.
The crypto community is closely watching to see how FixedFloat addresses this latest security lapse. Transparency and swift action are crucial to restoring trust and ensuring the safety of users’ assets in the wake of these breaches.