Cyvers in the News

Fixed Float Exploited for $2.8 Million, Tether Freezes Hacker Addresses

‍FixedFloat, the fully automatic crypto exchange, has reportedly been a victim of yet another security breach. The hacker managed to take almost $2.8 million worth of crypto from the Ethereum chain hot wallet, with the platform’s access control issues to be blamed. ^{The hack reported by CyversAlerts has left the exchange’s users bewildered and wondering as they wait for the platform to be sorted.}

FixedFloat reportedly suffers $2.8 million theft, Tether freezes $400,000 from attackers

‍Decentralized exchange FixedFloat’s Ethereum-based hot wallet saw several suspicious transactions that led to the withdrawals of $2.8 million during the past day, according to the Web3 security firm Cyvers.

^{According to Cyvers:}

^{“Approximately 14 hours ago, a staggering $2.8 million was withdrawn from [FixedFloat] hot wallet on the ETH chain.} The funds were directed to a suspicious address, which subsequently received various digital assets including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.”

Crypto Exchange FixedFloat Suffers Second Security Breach With $2.80 Million Lost

‍The cryptocurrency exchange FixedFloat has fallen victim to a second security breach, resulting in a loss of $2.80 million.

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Blockchain forensics firm ^{Cyvers sounded the alarm, revealing that suspicious transactions were detected, leading to the withdrawal of funds from FixedFloat’s hot wallet on the Ethereum (ETH) blockchain.}

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‍“The security breach at FixedFloat suggests an access control issue, similar to a previous hack on February 16. In both incidents, unauthorized access to the hot wallet led to the withdrawal of significant funds. Notably, blacklisted tokens like USDT and USDC were swiftly swapped to avoid being frozen, while DAI was directly deposited to eXch without conversion. This pattern indicates a targeted exploitation of vulnerabilities within the system’s access controls,” analysts at Cyvers told BeInCrypto.

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