Floating Point Group (FPG) Halts Operations After Cyberattack
Cryptocurrency brokerage firm Floating Point Group (FPG) has temporarily suspended trading, withdrawals, and deposits due to a cyberattack. The firm manages a substantial $50 billion in assets for its clients, according to its website.
The company locked all third-party accounts, migrated and secured wallets, and continues to investigate the scope and details of the incident. FPG has confirmed the cyberattack on Twitter.
FPG’s spokesperson stated that their account segregation measures helped mitigate the overall impact of the attack. However, the exact extent of the loss is still under investigation, with current estimates placing it between $15 million and $20 million in lost cryptocurrencies.
FPG is actively cooperating with the FBI, the Department of Homeland Security, regulators, and Chainalysis to understand the incident and recover the assets. As an ongoing investigation, specific details cannot be shared at this time, but the company assures regular updates as they become available.
Notably, this cybersecurity incident occurred six months after FPG announced its SOC 2 (Service Organization Control 2) certification.
FPG’s spokesperson stated that their account segregation measures helped mitigate the overall impact of the attack. However, the exact extent of the loss is still under investigation, with current estimates placing it between $15 million and $20 million in lost cryptocurrencies.
FPG is actively cooperating with the FBI, the Department of Homeland Security, regulators, and Chainalysis to understand the incident and recover the assets. As an ongoing investigation, specific details cannot be shared at this time, but the company assures regular updates as they become available.
Notably, this cybersecurity incident occurred six months after FPG announced its SOC 2 (Service Organization Control 2) certification.
