The crypto broker FPG was exploited with $ 20 million
The crypto broker FPG was exploited with $ 20 million
After a security violation on Sunday, the Floating Point Group-a crypto broker with an managed assets of $ 50 billion, whose main customers are institutional investors-announced that it has lost between $ 15 and $ 20 million.
Investigations run
Customers were recently informed about the violation by email and explained that all processes on the platform "from great caution" were temporarily suspended until the examination was satisfactorily completed. According to a spokesman for the company, there will be only a few updates to the situation, since both the FBI and the DHS are allegedly involved.
"We work with the FBI, the Ministry of Homeland, our supervisory authorities and Chainalysis to understand how it came about and to regain assets. Since it is an ongoing examination by the law enforcement authorities, we cannot provide any details at the present time."
deposits, payouts and trade are initially closed, there is no expected recording date.
2/5 Our contemination limited the overall effect of the attack. From the greatest caution, we have hired the trade as well as deposits and withdrawals. Finally we have notified the law enforcement authorities and work with you actively on this matter.
- Gleitkommagruppe (@fpgcrypto) 14. June 2023
fpg then turned to Twitter affected by the security violation, albeit with blocked answers.
cyber security measures were allegedly able to mitigate some damage
According to a company spokesman, the internal subdivision of the accounts at FPG limited the extent of the attack.
This wording could indicate a phishing attack in which the registration data was used by minor administrators to empty the accounts of customers whose funds were managed by this administrator. In this case, the ongoing investigation is likely to find out how many login information may have been compromised.
It is worth noting that FPG regularly carries out both internal and external audits. At the end of last year, both Certik and Prescient Assurance carried out an external examination of FPG's cyber security measures. The company received a SOC 2 Type 1 certificate and praised its commitment to a robust cyber security environment."FPG has received a SOC 2 Type 1 certification today. We have implemented a continuous security and compliance monitoring with a number of companies in order to enable and strengthen our commitment for the support of our customers and the protection of your digital assets and to strengthen and strengthen our commitment to the support of infrastructure, technology and employees to maintain. “
Unfortunately, these measures were not strict enough, since Hacker still found a way to penetrate their systems and to take away with a considerable amount of stolen cryptocurrencies.
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