**FixedFloat Exchange Announces Operational Resumption Post-Security Incidents, Unveils Upgraded Safeguards**
*Please note: The article below is a promotional feature and does not constitute part of the editorial material of Cryptonews.com.*
**FixedFloat**, a prominent player in the cryptocurrency exchange domain, is delighted to declare its operational comeback after overcoming a sequence of security breaches earlier this year in February and March. These breaches led to a financial loss of $26.1 million and have catalyzed the firm to implement substantial enhancements to its security framework, thereby reinforcing the protection of its clientele’s assets.
In the wake of a significant security lapse in February, where an intruder capitalized on a flaw within **FixedFloat’s** security architecture, the company swiftly initiated corrective measures. Nonetheless, the same perpetrator launched a subsequent attack on March 31.
A meticulous investigation revealed that the breaches were a consequence of vulnerabilities within the services of **Time4VPS**, a third-party hosting service utilized by **FixedFloat**.
**Time4VPS: A Partnership Under Scrutiny**
For an extended period, **FixedFloat** had entrusted **Time4VPS** with its hosting needs, drawn by its cost-effectiveness and user-friendliness. Despite transitioning the majority of our infrastructure to in-house servers by early 2024, a few less powerful nodes and subsystems continued to be hosted by **Time4VPS**.
**Time4VPS** boasts a clientele of over 100,000 across Europe and markets itself as a secure, client-centric provider—a portrayal that **FixedFloat** has found to be inaccurate.
**Details of the Security Breach**
In February, the assailant pinpointed the IP address of a **FixedFloat** technical server under **Time4VPS**. On March 31, a widespread unauthorized access was detected across all **Time4VPS** servers, despite only one IP being compromised initially. Our immediate response to alter passwords was futile, as the intruder managed to circumvent these updates and retain access.
The virtualization technology of **Time4VPS** hindered our capacity to implement essential security measures post-breach, aggravating the situation. Even with our attempts to forestall subsequent intrusions by modifying server passwords, the attacker leveraged overarching access privileges to sidestep our security measures.
Following the March 31 breach detection, we promptly informed **Time4VPS**. Their initial response was underwhelming, with technical support being inaccessible due to a holiday. Their sole recommendation was to modify passwords, and it was only upon our insistence that they recognized the breach and pledged a report, which is still pending after three months.
We harbor suspicions of either internal oversight or possible involvement of **Time4VPS** staff in the breach. The persisting security gaps lead us to believe that customer data at **Time4VPS** is still vulnerable. This ongoing concern has compelled us to discontinue their services and reconstruct our security architecture from scratch.
**The Resurgence of FixedFloat**
**FixedFloat** has established itself as a reliable cryptocurrency exchange over nearly six years, propelled by a team dedicated to delivering excellence. Post the second hacking incident, we temporarily halted operations for two months to revamp our security systems.
We have now recommenced operations, honoring all commitments to our clients and reinstating the majority of cryptocurrency exchanges. Our experts are diligently working to introduce new currencies and further refine our services.
We extend our heartfelt gratitude to our community for their enduring patience and support during these trying times. **FixedFloat** has emerged more resilient and secure, poised to offer the swift, dependable, and superior service our users have come to expect.
**About FixedFloat**
Launched in 2018 by a collective of crypto aficionados and blockchain virtuosos with a wealth of experience in entrepreneurship, web technologies, and finance, **FixedFloat** revolutionizes the cryptocurrency exchange process. The platform presents users with the choice between fixed and floating exchange rates to align with their investment strategies. Renowned for its rapid processing, robust framework, and amiable, committed customer service, **FixedFloat** stands out as a premier exchange catering to the diverse requirements of the crypto community.
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*Disclaimer: The content presented above is a promotional feature and does not form part of the editorial material of Cryptonews.com.*
