On February 19, 2024 at 10:23 PM IST, multiple users reported stalled transactions and missing funds on the X page of decentralized cryptocurrency exchange, FixedFloat. The platform has confirmed a security breach resulting in the unauthorized access and theft of Bitcoin and Ether worth over $26 million. The exchange initially attributed the unusual activity to technical issues and temporarily suspended operations for maintenance.

However, in a subsequent statement, the FixedFloat team admitted to the hack and theft, while assuring users of ongoing efforts to improve security and restore services promptly. On February 18, on-chain data revealed significant losses, including 400 Bitcoin (valued at $21 million) and 1,700 Ether (worth $5 million).

In addition to the hack, FixedFloat’s official website is currently displaying an error message on all pages. This is concerning as the platform operates without user registration or KYC verification, and a significant portion of its traffic comes from the United States.

Meanwhile, a report from TRM Labs revealed that North Korean threat actors stole $600 million in cryptocurrency in 2023, highlighting the persistent and evolving challenges of cyber threats in the cryptocurrency industry.