FixedFloat crypto exchange releases statement amid second cyber attack in 2024

FixedFloat, a leading cryptocurrency exchange, disclosed on April 1 via its official X (formerly Twitter) account that it had fallen victim to another cyber attack perpetrated by the same hackers responsible for the breach on February 16.

FixedFloat crypto exchange releases statement amid second cyber attack in 2024

FixedFloat crypto exchange releases statement amid second cyber attack in 2024

FixedFloat, a leading cryptocurrency exchange, disclosed on April 1 via its official X (formerly Twitter) account that it had fallen victim to another cyber attack perpetrated by the same hackers responsible for the breach on February 16.

Recall that NewsNG previously reported that the crypto exchange lost about $2.8 million in the latest cyber attack.

“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,” stated FixedFloat’s official statement on X.

Amidst their steadfast defence, the assailants exploited a vulnerability within a third-party service utilized by FixedFloat, adding another layer of complexity to the situation. However, the exchange assures users that they are actively bolstering security measures to mitigate future risks.

“While 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,” reassured FixedFloat.

The breach, while disruptive, had no impact on user funds or company assets, as the hackers targeted funds essential for ensuring platform liquidity.

“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.”

Additionally, FixedFloat clarified its role as a non-custodial service provider, reaffirming its commitment to user security and transparency.

“We also want to emphasize that FixedFloat does not perform the functions of a custodial service, that is, it does not store user funds.” 

An active investigation is underway to look into the intricacies of the incident, although specific details remain undisclosed due to the ongoing nature of the probe.

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FixedFloat remains resolute in its dedication to fortifying platform security and collaborating with relevant stakeholders to mitigate cyber threats.

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

FixedFloat urges users to monitor official channels for announcements and guidance regarding the incident.