FixedFloat, a prominent cryptocurrency exchange service, is excited to announce its full return to operations after a string of security breaches a few months ago. February was a dark time for FixedFloat when an attacker took advantage of a security flaw, making off with $26.1 million.
Despite immediate and thorough efforts to address these security issues, the same attacker struck again on March 31. After a detailed analysis, it was discovered that FixedFloat's vulnerability was linked to Time4VPS, a third-party service it had been using. Although most systems had been transferred, some nodes remained on Time4VPS servers.
The attacker was able to access all Time4VPS-hosted servers after discovering the IP of one server. Changing passwords didn't work as the attacker had global access, and Time4VPS's security protocols failed to prevent further breaches.
FixedFloat acknowledged its failure to immediately shut down compromised servers and recreate them from white lists. The company also revealed that after detecting the intrusion on March 31, it informed Time4VPS, whose technicians were unavailable and took no action the next day. It was only after persistent requests that Time4VPS confirmed the hack and promised a report, which is still undelivered after three months.
Time4VPS insisted on receiving documents without confirming that the vulnerability had been fixed, posing a risk of further information leaks. However, FixedFloat refused to provide documents without a hack report, fixes, and involvement of law enforcement.
FixedFloat suspects that there was either employee involvement or negligence by Time4VPS and UAB ‘Interneto vizija,’ and believes that critical vulnerabilities remain unaddressed, putting customer data at risk.
FixedFloat's Resurgence
FixedFloat has been a reliable cryptocurrency exchange for almost six years, driven by a dedicated team committed to excellence. Following the second hack, it suspended operations for two months to revamp its security infrastructure.
Now, operations have resumed, with most cryptocurrencies available for exchange. All client obligations from the hack have been fulfilled, and new currencies are being added.
The team at FixedFloat extends immense gratitude to those who waited and supported them. FixedFloat is back, prepared to offer high-quality service, fast exchanges, and excellent rates.
About FixedFloat
Established in 2018 by a group of cryptocurrency enthusiasts and blockchain experts with extensive experience in entrepreneurship, web technology, and finance, FixedFloat simplifies the process of exchanging cryptocurrencies through practical and scalable solutions that make the cryptocurrency economy work for users.
The platform allows users to choose between fixed or floating exchange rates that fit their investing strategy. FixedFloat prides itself on fast processing, robust design, and friendly, dedicated customer support, among other features, to provide a best-in-class exchange that meets all the needs of the cryptocurrency community.
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