Floating Point Group suspends withdrawals following $20m hack
Floating Point Group (FPG) has suspended fund deposits and withdrawals on its platform citing a security breach. The company claims that between $15 million to $20 million has been stolen from its coffers and it’s now collaborating with law enforcement agents to investigate the heist. FPG targeted by hackers Floating Point Group (FPG), a digital assets brokerage company headquartered in Southeast Asia and Asia Pacific (APAC), has indefinitely suspended fund withdrawals , due to a cyber security attack it encountered on June 11. According to a Twitter thread by FPG, upon discovering the security breach, it froze all third-party accounts under its custody and migrated funds to more secure wallets. Though the team claims its account segregation system cushioned the impact of the attack, the bad actors however managed to steal between $15 million to $20 million. Founded in 2018 by John Peurifoy, Kevin March, and Van Phu, FPG claims to eliminate the barriers to liquidity acc...