Crypto Brokerage Firm FPG Halts Withdrawals Post $20M Exploit

Crypto Brokerage Firm FPG Halts Withdrawals Post $20M Exploit

The entire loss from the assault, according to FPG’s estimations, is between $15 and $20M.
FPG is a global brokerage that connects institutional investors with the crypto markets.
Floating Point Group, a crypto brokerage firm, reported on June 12 that it has suspended trading, withdrawals, and deposits after a hack on June 11. The entire loss from the assault, according to FPG’s estimations, is between $15 and $20 million.
Moreover, after identifying the security compromise, FPG reportedly locked all third-party accounts and migrated wallets, as stated in a message published on the company’s official Twitter account on June 15. Trading, deposits, and withdrawals were subsequently suspended out of “an abundance of caution.” Account separation, the company said, “limited the overall impact” of the assault.
FPG is a global brokerage that connects institutional investors with the cryptocurrency markets. FPG and its customers together manage $50 billion in assets, according to

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