Floating Point Group Hack

USD loss estimate varies Not disclosed
Cyber incident; initial access unknown

What happened

Floating Point Group detected a cyber incident on June 11, 2023 and suspended trading, deposits and withdrawals. A spokesperson told The Block that preliminary cryptocurrency losses were $15 million to $20 million and said account segregation had limited the impact.

Technical root cause

FPG did not disclose the initial access method in its statement. A private-key, API-key or software vulnerability cannot be established from that account.

How it happened

  1. FPG discovered the incident and engaged forensic specialists and law enforcement.
  2. It locked third-party accounts and moved or secured wallets while assessing the damage.
  3. FPG said it was working with the FBI, Department of Homeland Security, regulators and Chainalysis to investigate and recover assets.

Protocol details

Classification Frontend & Infrastructure
Protocol Type CEX

Evidence

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