$2 800 000 USD

APRIL 2024

GLOBAL

FIXEDFLOAT

DESCRIPTION OF EVENTS

"FixedFloat is a cryptocurrency exchange platform that provides users with the ability to swap or exchange one cryptocurrency for another. It aims to offer fast, secure, and anonymous transactions without the need for user registration or personal information.

 

FixedFloat facilitates instant cryptocurrency swaps, allowing users to exchange one cryptocurrency for another at a fixed rate. It supports a wide range of cryptocurrencies, including popular options like Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and many others.

 

One of the notable features of FixedFloat is its non-custodial nature. This means that the platform does not hold user funds. Instead, it connects users with third-party liquidity providers to execute the swaps directly. This can enhance security and privacy, as users retain control over their funds throughout the transaction.

 

FixedFloat offers a range of instant and unique features that set it apart from other exchanges. For instance, users can quickly and easily exchange a wide variety of virtual assets without having to worry about complicated trading procedures or high fees. Moreover, the platform uses advanced security measures to ensure the safety and privacy of user data at all times, making it one of the most secure exchanges available.

 

FixedFloat represents a new and exciting chapter in the evolution of virtual asset trading. By leveraging the power of cutting-edge technology and innovative business models, FixedFloat has created a platform that is both easy to use and highly effective, providing traders with a range of unique features and capabilities that are simply not available elsewhere. Whether you are a seasoned trader or a newcomer to the world of virtual asset trading, FixedFloat is sure to offer something of value to you. So why not give it a try today and see for yourself what all the fuss is about?"

 

"The exchange was founded in 2018 by a group of blockchain-experienced enthusiasts who have demonstrated a keen interest in the convergence of network technology, finance, and business. With its cutting-edge platform and unique approach to virtual asset trading, FixedFloat has quickly earned a reputation as one of the most innovative and user-friendly exchanges on the market today."

 

"Cryptocurrencies open new opportunities for achieving financial freedom. The bigger the user base, the greater the competitive advantages that emerging distributed ledger technologies provide. FixedFloat gives you the tools to make full use of your digital assets through an easy and accessible exchange platform."

 

"On April 1, we were again attacked by the attackers who were behind the February 16 hack. The attackers did not stop there and continued to use various methods to try to hack our service again. Thanks to the enormous work done to improve the security of our infrastructure, we were able to successfully repel their attacks and continue to work.

 

However, despite all our efforts, unfortunately, hackers managed to discover a vulnerability of a third party whose services we use. Although such third-party attacks are beyond our control, we take all necessary measures to strengthen the security of our service and will work to prevent similar incidents in the future.

 

We would like to emphasize that financial losses affected only our service; hackers stole funds to ensure the liquidity of the service, that is, the company’s funds and user funds were not affected. We also want to emphasize that FixedFloat does not perform the functions of a custodial service, that is, it does not store user funds.

 

We are currently in the process of an active investigation. Details of the incident cannot yet be disclosed due to the ongoing investigation."

 

"a staggering $2.8M was withdrawn from their hot wallet on the $ETH chain. The funds were directed to a suspicious address, which subsequently received various digital assets including $ETH, $USDT, $WETH, $DAI, and $USDC.

 

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."

FixedFloat is a non-custodial cryptocurrency exchange platform that offers fast, secure, and anonymous transactions without requiring user registration. Users can swap various cryptocurrencies at fixed rates, benefitting from instant transactions and advanced security measures. On April 1, 2024 the platform experienced an second attack by hackers who exploited a vulnerability in a third-party service used by FixedFloat. A significant amount of funds was withdrawn from FixedFloat's hot wallet on the Ethereum chain and redirected to a suspicious address, prompting the platform to undergo maintenance. Despite the attack, user funds were not affected, as FixedFloat does not act as a custodial service. The incident is currently under investigation, with details yet to be disclosed.

Sources And Further Reading

 For questions or enquiries, email info@quadrigainitiative.com.

Get Social

  • email
  • reddit
  • telegram
  • Twitter

© 2021 Quadriga Initiative. Your use of this site/service accepts the Terms of Use and Privacy Policy. This site is not associated with Ernst & Young, Miller Thompson, or the Official Committee of Affected Users. Hosted in Canada by HosterBox.