A hack targeting the Lightning-based exchange FixedFloat resulted in a theft of more than $3 million in cryptocurrency, as reported by X. This incident marked a repeat security breach for FixedFloat, following a previous attack in February.

Overview of the Security Breach

Security firm CertiK identified the unauthorized transactions, which involved transferring funds to Ethereum and Tron network wallets, including Ethereum (ETH) and Tether (USDT). The similarity of this attack to a previous one on February 16th raised concerns about potential vulnerabilities in the system.

As a response, FixedFloat temporarily shut down its website for "technical maintenance," leaving users unable to access information during this period.

FixedFloat's Reaction and Security Measures

In light of the breach, FixedFloat released a statement addressing the attack and outlining steps to enhance security protocols moving forward. The exchange emphasized its dedication to bolstering infrastructure security to prevent future breaches.

The stolen funds were confirmed to be from the company's reserves, with user assets remaining securely stored due to FixedFloat's non-custodial practices.

Responses from the Industry

FixedFloat initiated an investigation into the incident, although limited details were shared due to the complexity and sensitivity of the matter. The repeated security breaches at FixedFloat have prompted scrutiny from the crypto community and security experts regarding the adequacy of corrective actions taken post-hack.

Amidst these events, Bitcoin's price saw a 5.83% decrease, trading at $65,650 at the time of reporting.

※ This article was originally published on COINTURK NEWS: FixedFloat Exchange Suffers Major Hack with Over $3 Million in Crypto Stolen