Posted 2/19/2024, 7:16:38 PM
Cryptocurrency Exchange FixedFloat Loses $26 Million in Hack Exploiting Security Vulnerabilities
- Cryptocurrency exchange FixedFloat was hacked, resulting in the theft of over 400 Bitcoin and 1,700 Ethereum worth about $26 million
- The hack exploited vulnerabilities in FixedFloat's security infrastructure to gain access to functions of its service
- FixedFloat operates without KYC measures, making it difficult to track the stolen funds
- FixedFloat assured users their funds were safe, as it does not store customer assets, but losses impacted the company itself
- FixedFloat is working with authorities to track the hackers and promises to resume services once security is strengthened