Hack Alert - FixedFloat Exploited For $26M Bitcoin & ETH
Quick Summary
Picture a big vault (Exchange) where people store their valuable digital coins, like Bitcoin and Ether
Some hackers managed to break into this vault and steal a large amount of these valuable digital coins.
The people in charge of the vault, known as FixedFloat, didn't catch onto the theft right away. Initially, they thought there was just a minor issue and said they needed to fix it.
But as they were working to fix the problem, more and more coins continued to disappear from the vault each day.
Customers who use this vault started noticing that their coins were missing. They couldn't access their coins anymore, and the ones they had stored were gone!
Now, the people responsible for the vault are trying to understand how the hackers managed to break in and are working to ensure it doesn't happen again. However, for the time being, the vault is closed, and no one can deposit or withdraw any coins.
What Could I Have Done To Protect Myself As A Crypto User?
Consider using hardware wallets like Ledger Nano S, Ledger Nano X, or Trezor. These wallets store your private keys offline, making them highly secure against online hacking attempts. Make sure to purchase your hardware wallet from a reputable source and follow the setup instructions carefully.
More Information
https://fixedfloat.com/en/
https://cointelegraph.com/news/fixed-float-confirms-26m-exploit-bitcoin-ether