FixedFloat, a decentralized cryptocurrencycurrency exchange, has suffered another hacking attack, resulting in the loss of roughly $2.8 million in Ethereum-based cryptocurrencycurrencies. This incident occurred just months after the exchange was subjected to a $26.1 million attack in February.
According to reports, an unknown individual immediately snatched $2.8 million worth of Ethereum (ETH), Tether (USDT), Wrapped Ether (WETH), DAI, and USD Coin (USDC) from FixedFloat’s hot wallet. The attacker appears to have carried out the illicit transactions using eXch, a smart contract for token swapping.
FixedFloat has not made any public announcements on the situation as of the time of publishing, and the official website is now unavailable due to technical issues.
The latest incident is another successful breach against FixedFloat, following the previous attack in February, which resulted in the exchange losing $26.1 million in unauthorized access to its cash. Although the facts of the February breach remain unknown, the project’s developers previously dismissed the $26 million attack as a “minor problem.”
Repeated security breaches at FixedFloat raise concerns about the safety of user funds, causing the cryptocurrency community to seek additional information on the incident and preventative measures. These occurrences highlight the continuous problem of protecting decentralized platforms.