A new crypto scam has been uncovered in the digital asset ecosystem, resulting in the loss of approximately $26 million worth of cryptocurrencies from the exchange FixFloat.
FixFloat, a popular coin mixer and decentralized exchange, experienced an exploit that led to the theft of 409 Bitcoin, valued at $21.17 million, and 1,728 Ethereum, worth $4.85 million. This incident prompted the exchange to switch to maintenance mode, as users reported frozen transactions and missing funds.
Initially, the exchange claimed that the outflows were due to “minor technical problems,” but later confirmed the hack. Investigations are still ongoing to determine the cause of the attack.
The incident highlights the ongoing challenge of on-chain cybersecurity in the crypto industry. Many top protocols have fallen victim to similar scams, resulting in the loss of millions of dollars in cryptocurrencies. For example, Ripple reportedly suffered a major breach with $112.5 million worth of XRP coins lost, and Solana’s Phantom wallet was recently targeted in a Distributed Denial of Service (DDoS) attack.
In some cases, hackers even target high-profile individuals, using their reputation to create fake crypto scam videos that may deceive unsuspecting viewers. As these bad actors continue to evolve their tactics, it is crucial for crypto enthusiasts and investors to remain vigilant and trade cautiously, especially when encountering phishing links. The exchange has promised to provide more details on the incident once the investigation is complete and their platform is back in operation.
