The FixedFloat cryptocurrency exchange has been hit by a significant breach, resulting in the loss of approximately $26 million worth of Bitcoin and Ether, as per blockchain records. The data breach was officially acknowledged by the FixedFloat team on February 18th, following initial attempts to downplay the unusually high outflows of assets as minor technical glitches, which led to placing the platform under maintenance.

Customer concerns began on February 17th, with reports of stalled transactions and vanished funds. Analysis of blockchain data indicates that over 400 Bitcoin, valued at around $21 million, and more than 1700 Ether, equivalent to nearly $5 million, were diverted on February 18th alone.

At present, there is limited information on the specifics of the attack. FixedFloat's team is conducting a thorough investigation and has assured users of their efforts to address vulnerabilities and bolster security measures. They have pledged to resume operations soon and provide further details on the incident. Currently, the FixedFloat website is inaccessible, displaying an error message on all pages.

Recognized for its user-friendly interface without the need for user registration or KYC verification, FixedFloat's automated crypto exchange also integrates with the Bitcoin Lightning Network. Reportedly, about a quarter of its web users are from the U.S. This breach highlights the critical importance of on-chain cybersecurity, an ongoing challenge within the crypto industry. Other instances, such as ongoing scams targeting the Solana ecosystem and the resurgence of high-profile ransomware attacks, underscore the persistent threats faced by stakeholders in the crypto space.