What happened to FixedFloat?

This article explains what happened to the No Registration Required website: FixedFloat on April 1, 2024.

On April 1, 2024 FixedFloat announced the following on their Twitter page:

On April 1, we were again attacked by the attackers who were behind the February 16 hack. The attackers did not stop there and continued to use various methods to try to hack our service again. Thanks to the enormous work done to improve the security of our infrastructure, we were able to successfully repel their attacks and continue to work.

However, despite all our efforts, unfortunately, hackers managed to discover a vulnerability of a third party whose services we use. Although such third-party attacks are beyond our control, we take all necessary measures to strengthen the security of our service and will work to prevent similar incidents in the future.

We would like to emphasize that financial losses affected only our service; hackers stole funds to ensure the liquidity of the service, that is, the company’s funds and user funds were not affected. We also want to emphasize that FixedFloat does not perform the functions of a custodial service, that is, it does not store user funds.

We are currently in the process of an active investigation. Details of the incident cannot yet be disclosed due to the ongoing investigation.

Is the service going to stop?

At the time of writing (April 3, 2024) it’s hard to say what’s going to happen next. The assumption is the service will resume, it’s the 2nd time within less than 2 months that such an incident happened. It’s truly sad.

What can we learn from this incident?

The best lesson to take from this is to never keep a lot of crypto linked to your business or other affairs, directly or indirectly. Always keep a small amount of Crypto to pay your users. We for instance never keep in our wallets more than $300 to pay for the highest jackpot on site. Any other requests will require a human intervention to ensure it’s not a fraudster or a scammer who tries to cheat and steal money from us. FixedFloat should do the same thing in order to protect themselves in the future.