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<p><span style="font-weight: 400;">Cryptocurrency exchange FixedFloat has been exploited for at least $26 million worth of </span><a href="https://insidebitcoins.com/news/microstrategys-profit-on-massive-bitcoin-stash-hits-4-billion-after-btcs-21-surge-in-a-month" rel="noopener noreferrer nofollow"><span style="font-weight: 400;">Bitcoin</span></a><span style="font-weight: 400;"> and Ethereum, on-chain data shows.</span></p>
<p><span style="font-weight: 400;">FixedFloat </span><a href="https://twitter.com/officer_cia/status/1759239096566747168" rel="noopener noreferrer nofollow"><span style="font-weight: 400;">confirmed</span></a><span style="font-weight: 400;"> the attack just a few hours after the incident was reported on X after initially saying massive outflows were due to “minor technical problems.” It then switched its services to maintenance mode.</span></p>
<p><span style="font-weight: 400;">“We confirm that there was indeed a hack and theft of funds,“ said the exchange. “We are working to eliminate all possible vulnerabilities, improve security, and investigate. Our service will be available again soon. We will provide details on this case a little later.”</span></p>
<p><img decoding="async" src="https://fixedfloat.com/assets/images/public/ogimage.jpg" alt="Technical work is underway – FixedFloat"></p>
<h2 id="span-style-font-weight-400-users-started-reporting-issues-on-fixedfloat-span"><span style="font-weight: 400;">Users Started Reporting Issues On FixedFloat</span></h2>
<p><span style="font-weight: 400;">Since Feb.17, multiple users have reported frozen transactions and missing funds on the exchange’s X page. On-chain </span><a href="https://etherscan.io/address/0x85c4ff99bf0ecb24e02921b0d4b5d336523fa085" rel="noopener noreferrer nofollow"><span style="font-weight: 400;">data</span></a><span style="font-weight: 400;"> shows that more than 400 BTC, worth approximately $21 million, was drained from the platform on Feb. 18.</span></p>
<p><span style="font-weight: 400;"> More than 1,700 ETH worth $5 million was also transferred out of FixedFloat during the incident. The exchange’s </span><a href="https://fixedfloat.com/" rel="noopener noreferrer nofollow"><span style="font-weight: 400;">website</span></a><span style="font-weight: 400;"> shows that the platform is still in maintenance mode as of 4:15 a.m. EST.</span></p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <p lang="en" dir="ltr">Looks like <a href="https://twitter.com/FixedFloat?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@FixedFloat</a> just got exploited for 1700 ETH!</p>
 <p>Drainer address: 0x85c4fF99bF0eCb24e02921b0D4b5d336523Fa085</p>
 <p>Info by: <a href="https://twitter.com/reprove?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@reprove</a> <a href="https://t.co/XHnHy3CFSs" rel="noopener noreferrer nofollow">pic.twitter.com/XHnHy3CFSs</a></p>
 <p>— Officer's Notes (@officer_cia) <a href="https://twitter.com/officer_cia/status/1759192197704933621?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">February 18, 2024</a></p>
</blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p><span style="font-weight: 400;">The automated crypto exchange does not require users to complete Know Your Customer (KYC) verification. SEMrush data shows that approximately 26% of the platform’s web traffic comes from users in the US.</span></p>
<h2 id="span-style-font-weight-400-cyber-criminals-grow-more-active-in-the-web3-space-span"><span style="font-weight: 400;">Cyber Criminals Grow More Active In The Web3 Space</span></h2>
<p><span style="font-weight: 400;">Cyber threats within the blockchain space have grown more prominent over the past few months. The resurget </span><a href="https://insidebitcoins.com/buy-cryptocurrency/solana-airdrops" rel="noopener noreferrer nofollow"><span style="font-weight: 400;">Solana</span></a><span style="font-weight: 400;"> ecosystem, for instance, has been targeted by scam-as-a-service marketplaces that offer buyers drainers which can perform bit-flip attacks.</span></p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <p lang="en" dir="ltr">🫡 Scam-As-A-Service: New Solana Drainers Identified 🫡</p>
 <p>Web3 security firm Blowfish has detected two new Solana drainers that can perform bit-flip attacks, according to a Feb. 9 analysis shared on X (formerly Twitter).</p>
 <p>The drainers, known as ‘Aqua’ and ‘Vanish,’ were flagged… <a href="https://t.co/IRbbQTUaG0" rel="noopener noreferrer nofollow">pic.twitter.com/IRbbQTUaG0</a></p>
 <p>— Printhereum (@Printhereum) <a href="https://twitter.com/Printhereum/status/1756392961225457740?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">February 10, 2024</a></p>
</blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p><span style="font-weight: 400;">Chainalysis also flagged the return of ransomware payments in 2023 with high-profile institutions the primary target for such attacks. A </span><a href="https://www.chainalysis.com/blog/crypto-hacking-stolen-funds-2024/" rel="noopener noreferrer nofollow"><span style="font-weight: 400;">report</span></a><span style="font-weight: 400;"> by the on-chain tracking firm shows that criminals made a record $1 billion in 2023 through supply chain hacks. </span></p>
<p><span style="font-weight: 400;">It also showed that these hackers ranged from small criminal groups to large syndicates.&nbsp;</span></p>
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Cryptocurrency Exchange FixedFloat Suffers $26 Million Exploit In Bitcoin And Ethereum

Table of Contents

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