Alleged Second Hack Strikes Decentralized Crypto Exchange FixedFloat, Resulting in Losses of Millions

Decentralized cryptocurrency exchange FixedFloat, still reeling from a previous $26.1 million hacker attack in February, is purportedly facing yet another exploit, this time losing nearly $3 million in various cryptocurrencies on the Ethereum network.

Reports from CyversAlerts indicate that an unidentified entity swiftly drained $2.8 million worth of Ethereum (ETH), Tether (USDT), Wrapped Ether (WETH), DAI, and USD Coin (USDC) from FixedFloat's hot wallet on the Ethereum blockchain. The attacker purportedly utilized eXch, a smart contract for token swapping, to execute the illicit transactions.

"The suspicious address promptly swapped these assets into ETH via DEX, before funneling all funds into the eXch exchange. After these transactions, the hot wallet ceased its operations, and the company’s website is currently undergoing maintenance," noted CyversAlerts.

At the time of reporting, FixedFloat has yet to release any public statements regarding the incident, and access to the official website remains unavailable due to technical maintenance.

This latest breach marks another blow to FixedFloat, following the significant attack in February, where unauthorized access led to a loss of $26.1 million in exchange funds. While specifics surrounding the February breach remain undisclosed, the project's developers had previously attempted to downplay the severity of such incidents, referring to the $26 million hack as a "minor problem."