FixedFloat Crypto Exchange Loses $26M in Bitcoin and Ethereum in Recent Hack

By: Eliza Bennet

FixedFloat, a non-custodial crypto exchange, experienced a recent security breach leading to the loss of a large amount of Bitcoin and Ethereum. There was no immediate public comment on the event from the team, citing ongoing efforts to resolve vulnerabilities and improve security measures. Details about the incident and the total loss remained undisclosed.

On-chain data reveals that the cyber thief made off with digital assets valued at approximately $26 million, involving 1,728 ETH (worth approximately $4.85 million) and 409 BTC (valued at $21 million). Blockchain security specialists PeckShield report that stolen ETH funds have been shifted to the Ethereum crypto mixer eXch.

The stolen Bitcoin was divided among various addresses to conceal the crime. Beosin Alert, an on-chain investigation entity, disclosed that precisely 166.1 BTC of the stolen funds were sent to Samourai Wallet to employ CoinJoin transactions to further obfuscate transaction trails. CoinJoin transactions refer to a type of transaction in which two or more individuals combine their finances into a single transaction to confuse the trail of ownership post-transaction.

As of now, the FixedFloat website is under maintenance due to the ongoing investigation and necessary security enhancements to prevent such incidences in the future. FixedFloat is a non-custodial exchange enabling automated crypto exchanges and supporting the Bitcoin Lightning Network.