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Crypto Exchange FixedFloat Hit by Alleged $26 Million Hacker Attack

FixedFloat, a decentralized crypto exchange, has reportedly fallen victim to a significant hacker attack, resulting in the loss of Bitcoin and Ethereum funds amounting to millions of dollars.

According to a post on X dated February 18, the FixedFloat team acknowledged the incident after it was initially brought to light by blockchain researcher @reprove. Although specific details about the hack remain undisclosed, developers described it as a “minor problem.” However, they confirmed a loss of at least 1,700 Ethereum (ETH), valued at around $4.7 million at the time of the announcement.

Speculation has arisen regarding the possible involvement of FixedFloat developers in the theft, with some suggesting the potential role of an insider. @reprove hinted at this possibility, implying the involvement of a developer in the breach. Despite these speculations, FixedFloat has not provided any further statements or updates beyond their initial disclosure.

Blockchain security firm CertiK suggests that the total stolen funds could be much higher, with the hacker reportedly draining over $21 million worth of Bitcoin (BTC). According to CertiK, the stolen Ethereum funds have already been transferred via eXch, a smart contract designed for token swaps. Additionally, part of the stolen Bitcoin funds has been sent to Samourai Wallet for CoinJoin transactions, a method used to mix funds by combining multiple payments into a single transaction.

Established in 2019, FixedFloat operates as a non-custodial cryptocurrency exchange supporting Ethereum and Bitcoin transactions, including those conducted through the Lightning Network. Earlier this month, analysts at Forta Network revealed that FixedFloat had been involved in financing over 23% of flash loan attacks, highlighting the platform’s growing prominence within the crypto ecosystem.

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