Cryptocurrency Exchange FixedFloat Under Scrutiny
Crypto exchange FixedFloat finds itself under scrutiny after a recent security breach drained approximately $26 million from its BTC and ETH wallets. Despite accusations circulating on social media implicating internal actors, the exchange vehemently denies any involvement by its employees.
Vulnerabilities Exposed
In an exclusive interview with them, the team revealed that the breach stemmed from vulnerabilities within its security infrastructure rather than internal malfeasance. The attackers exploited weaknesses in the system’s defenses, gaining access to critical service functions.
User Funds Safe, Pending Orders Delayed
FixedFloat sought to reassure its users, clarifying that the compromised funds belonged to the exchange itself, and no customer assets were affected. However, the breach has hindered the exchange’s ability to fulfill pending orders, impacting approximately 30 users.
Transparency Amid Criticism
Criticism mounted as FixedFloat delayed reporting the breach to the public. The team defended its actions, citing a priority on swiftly addressing vulnerabilities to prevent further losses. Immediate disclosure, they argued, risked alerting other threat actors to the security flaw.
Road to Recovery
FixedFloat aims to restore full functionality in the coming days, with a comprehensive report to follow once the investigation concludes. In the meantime, the exchange pledges to prioritize user security and fulfill all outstanding obligations.
Conclusion
While the $26 million hack rattled FixedFloat and its users, the exchange remains steadfast in its commitment to transparency and resolution. As investigations continue, the crypto community watches closely, hoping for swift justice and strengthened security measures.
