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In the latest blow to the cryptocurrency ecosystem, Fixed Float, a crypto mixer and decentralized exchange, became the victim of a major scam. The attack resulted in the loss of approximately 26 million dollars worth of Bitcoin (BTC) and Ethereum (ETH). Furthermore, the crypto hacker acted quickly by transferring most of the stolen Ethereum.
Massive Amounts of Bitcoin and Ethereum Stolen
The attack led to the theft of 409 Bitcoin valued at 21.17 million dollars and a total of 1,728 Ethereum worth 4.85 million dollars from the platform. According to a post by Peck Shield Alert, most of the stolen Ethereum funds were later transferred by the hacker to an exchange on the Ethereum network. However, there has been no update on what happened to the seized Bitcoin funds.
Crypto exchange hack details first emerged on platform X, where numerous users reported frozen transactions and missing funds. Later, the Bitcoin and Ethereum hack news from the latest crypto attack was confirmed by Fixed Float. Initially downplaying the issue as merely “minor technical issues,” the platform quickly went into maintenance mode as the situation unfolded.
Several hours later, Fixed Float released a statement acknowledging the severity of the situation and describing it as a hack involving “the theft of funds.” According to the latest update, the cryptocurrency exchange is investigating the security breach to identify the source of the hack.
Fixed Float Provides Update on Investigation
Regarding ongoing investigations, Fixed Float refrained from providing detailed comments. The exchange stated, “We are not yet ready to comment publicly on this matter as we work to eliminate all potential security vulnerabilities, enhance security, and conduct our investigation.”
The exchange reassured users that an update would be provided soon, saying, “Our service will be available again shortly. We will provide details on this incident shortly.” Despite the statement, users criticized the crypto exchange for falling victim to such an attack and even described the exchange as a “scam” site. Additionally, a user shared a screenshot of a chat where the Fixed Float team requested private keys.
The user claimed the action could have been initiated by the hacker. However, the exchange confirmed that it was part of the verification process and justified the action by stating they needed private key details to verify Monero (XMR) transactions on the platform. Nevertheless, users continue to doubt the platform’s intentions following the $26 million crypto hack incident.
