FixedFloat Attack Actively Investigated By Arkham

Key Points:

• Arkham announces reward plan in response to FixedFloat attack, offering incentives for information leading to attacker identification and fund recovery.
• Despite confirmation of the hack, FixedFloat refrains from disclosing further details, emphasizing security improvements and ongoing investigation.

Arkham, a leading cryptocurrency exchange, has announced a reward plan in response to the recent FixedFloat attack, a prominent cryptocurrency trading platform.

Arkham Launches Reward Program Amid FixedFloat Attack

FixedFloat fell victim to a hacking incident on February 16, 2024, resulting in the loss of over $25 million worth of Bitcoin and Ethereum.

The reward plan unveiled by Arkham aims to incentivize the sharing of crucial information related to the attack. Rewards will be offered for any details that lead to the identification of the attacker responsible for targeting FixedFloat, as well as information facilitating the successful recovery of the stolen funds. It’s noteworthy that all information submitted by participants will be shared directly with the FixedFloat team.

The FixedFloat attack has sparked speculation within the cryptocurrency community, with some speculating about the potential involvement of insiders from FixedFloat in the breach. However, FixedFloat has refrained from releasing any further statements or updates beyond their initial disclosure.

FixedFloat Prioritizes Security Measures Post-Hack

Although FixedFloat has confirmed the occurrence of the hack and subsequent fund theft, the company has remained tight-lipped regarding specific details. They have emphasized their focus on enhancing security measures, eliminating vulnerabilities, and conducting a thorough investigation into the incident.

FixedFloat, established in 2019, operates as a non-custodial cryptocurrency exchange supporting Ethereum and Bitcoin transactions, including those conducted through the Lightning Network.

Notably, recent analysis by Forta Network revealed FixedFloat’s involvement in financing over 23% of flash loan attacks, highlighting the platform’s growing significance within the cryptocurrency ecosystem.