Key takeaways:
- It was recently discovered that 409 Bitcoins and 1,728 Ethers, valued at over $26 million, were lost in a major attack that affected FixedFloat, a well-known cryptocurrency exchange.
- Aside from that, the exchange promised to reimburse users for any unpaid bills they may have had as a result of the incident.
It was recently discovered that 409 Bitcoins and 1,728 Ethers, valued at over $26 million, were lost in a major attack that affected FixedFloat, a well-known cryptocurrency exchange.
The FixedFloat team provided information on the issue and responded to CoinCodeCap’s questions after the exchange announced the breach earlier today. The team also provided details about the event and their next steps.
According to FixedFloat’s statement, which was given to CoinCodeCap, the breach resulted from flaws in their security infrastructure that outside attackers were able to take advantage of in order to access specific parts of the service without authorization.
But they also reaffirmed their commitment to strengthening security protocols and gave users the reassurance that there was no internal involvement in the incident. According to a FixedFloat spokesperson,
“We did not immediately report the hack, as we were already aware of the incident and immediately began putting our service into maintenance mode to ensure security and minimize losses,”
FixedFloat delayed releasing public statements about the hack because, according to their response, strengthening security measures and fixing vulnerabilities was their top priority right now. The goal of this strategy was to minimize any dangers to users while quickly fixing the issue.
Since the exchange doesn’t function as a custodial service, users’ funds are unaffected, FixedFloat promised users despite the significant financial losses suffered.
Aside from that, the exchange promised to reimburse users for any unpaid bills they may have had as a result of the incident. These payments would be handled after the service has been fully restored and is declared secure. The representative also stated:
“Currently, we actually have outstanding payment obligations for approximately 30 orders to our users. We can consider compensation privately for those orders for which we did not fulfill our obligations due to the situation,”
Users have been assured by FixedFloat that they will get timely payment for any unpaid bills arising from the hack after the service is back up and running and has undergone extensive security testing.
The technical team at FixedFloat is hard at work bringing the platform back to full functionality, and regular operations should resume in the next several days. After the inquiry is over, the exchange vowed to release a thorough report on the occurrence and reaffirmed its commitment to transparency.
