FixedFloat, a decentralized cryptocurrency exchange, has reportedly fallen victim to yet another cyber attack, resulting in a substantial loss of $2.8 million.
This incident comes on the heels of a previous breach in February, where the exchange suffered a staggering $26.1 million loss in unauthorized access to its funds.
According to reports from CyversAlerts, an unidentified entity swiftly drained FixedFloat’s hot wallet on the Ethereum blockchain, making off with Ethereum (ETH), Tether (USDT), Wrapped Ether (WETH), DAI, and USD Coin (USDC).
The attacker allegedly exploited each smart contract for token swapping to seamlessly execute illicit transactions.
Following the unauthorized transfers, the suspicious address reportedly converted the stolen assets into Ethereum (ETH) through decentralized exchanges (DEX) before funnelling the funds into each exchange.
Subsequently, the operations of FixedFloat’s hot wallet ceased, and the company’s website is currently offline for maintenance.
FixedFloat has not released any official statements regarding the breach, and access to its website remains restricted due to technical maintenance.