New Delhi, February 19: Decentralised crypto exchange FixedFloat has confirmed a hack that resulted in the theft of Bitcoin and Ether worth at least $26 million. The exchange team confirmed the attack shortly after it was originally reported on X. Initially, the team attributed the massive outflows to "minor technical problems" and put its systems on maintenance.

"We confirm that there was indeed a hack and theft of funds. We are not yet ready to make public comments on this matter, as we are working to eliminate all possible vulnerabilities, improve security, and investigate. Our service will be available again soon," FixedFloat said. MIT Engineers in US Develop Tiny ‘Anti-Tampering’ ID Tag That Can Reveal if an Item Is Real or Fake.

Since February 17, several users have reported stalled transactions and missing funds on the company's X page. As per on-chain data, over 400 Bitcoin worth around $21 million and more than 1,700 Ether worth about $5 million were drained on February 18. In addition, FixedFloat's official website was presently displaying an error message on all pages. Deepfakes: South Korea Election Authorities Raise Concerns Over Proliferation of Artificial Intelligence-Generated Deepfake Videos and Images Amid Parliamentary Elections in April.

FixedFloat is an automated cryptocurrency exchange that does not require user registration or Know Your Customer (KYC) verification. According to SEMrush data, around 26 per cent of their site traffic originates from consumers in the US. Meanwhile, a report by the blockchain intelligence company TRM Labs revealed that threat actors tied to North Korea stole at least $600 million in cryptocurrency in 2023.

(The above story first appeared on LatestLY on Feb 19, 2024 11:07 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website