Today, the cryptocurrency market witnessed a significant downturn, with Bitcoin spearheading the plunge. The drop comes in the wake of robust US manufacturing data, which has reshaped expectations regarding Federal Reserve policy.
Adding to the market’s woes, bond yields surged, signaling potential hikes in future interest rates and inflation concerns. However, the most alarming development emerged from the decentralized finance sector. FixedFloat, a leading decentralized exchange, was hit by a cyberattack, resulting in the loss of nearly $3 million worth of various cryptocurrencies, including ETH, USDT, USDC, WETH, and DAI.
🚨UPDATE🚨A short while ago, @Tether_to blacklisted seven addresses, resulting in the withdrawal of a total of 280K $USDT from @FixedFloat.
Check out this example: 👇https://t.co/YVMgC8rBBP#CyversAlert https://t.co/vp9r9X4cdP— 🚨 Cyvers Alerts 🚨 (@CyversAlerts) April 2, 2024
This marks FixedFloat’s second breach since February, with the earlier exploit costing the exchange over $26 million. In both incidents, hackers gained unauthorized access to the hot wallet, facilitating the withdrawal of millions in tokens. Notably, blacklisted tokens like USDT and USDC were rapidly swapped to evade potential freezing.
Analysts from Cyvers suspect a targeted exploitation of vulnerabilities within the exchange’s access controls. Despite the severity of the attack, the FixedFloat team has remained silent, with no official statements issued. Currently, the exchange’s website displays an error page, and its activity on X account shows no transactions in the last three days, leaving the cryptocurrency community on edge amidst growing security concerns.
