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19 Feb 2024

$26 million in Bitcoin and Ethereum stolen from FixedFloat exchange

FixedFloat, a non-custodial crypto exchange, confirmed that its platform was hacked over the weekend.

In a Feb. 18 post on the social media platform X (formerly Twitter), the project acknowledged the hack and subsequent fund theft in response to queries from the crypto community. However, the team did not disclose specific details about the incident or the amount stolen.

“We are not yet ready to make public comments on this matter, as we are working to eliminate all possible vulnerabilities, improve security, and investigate,” it added.

CryptoSlate can confirm that the exchange website has been switched into maintenance mode and displays an error message as of press time.

FixedFloat operates as a non-custodial exchange, facilitating automated crypto exchanges. Users can utilize the platform without registration or Know Your Customer (KYC) verifications. Additionally, FixedFloat supports the Bitcoin Lightning Network.

Stolen funds worth $26 million

On-chain data shows that the stolen funds from the platform were worth $26 million in digital assets, including 1,728 ETH, worth around $4.85 million, and 409 BTC valued at $21 million.

The attacker has moved most of the stolen ETH  funds to the Ethereum crypto mixer eXch, according to blockchain security firm PeckShield.

The stolen 409 BTC were dispersed to multiple addresses by the attacker, according to Beosin Alert.

On-chain investigators revealed that part of the stolen fund, precisely 166.1 BTC, was sent to Samourai Wallet to use Coinjoin transactions to obfuscate the transaction trails.

“CoinJoin transactions are a type of transaction where two or more people combine their funds into one transaction in such a way that after the transaction it is unclear who owns which coin,” Evgenii explained.

The post $26 million in Bitcoin and Ethereum stolen from FixedFloat exchange appeared first on CryptoSlate.

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