Crypto Broker FPG Halts Payments After Losing $15M in Hacker Attack

Prime Brokerage Floating Point Group has announced that they have suspended trading, deposits, and withdrawals due to a cyberattack resulting in approximately $15-20 million in damages.

As a preventative measure, the company has blocked all accounts and transferred funds to new wallets until experts investigate the extent of the attack.

Law enforcement has been contacted and is working alongside the FBI, Department of Homeland Security, regulators, and Chainalysis.

The company is working around the clock to secure the system and return any stolen assets. Their SOC 2 certification can be used to verify that Floating Point Group implement strong security, privacy, and other protective controls.

The startup is licensed by the Cayman Islands VASP and has over 100 clients that manage around $50 billion worth of assets.

In September 2021, Tribe Capital invested $10 million into the company during their Series A funding round.