Crypto Prime Broker FPG Loses Up to $20M in Cyber Attack

FPG told customers via email that it had ceased trading, deposits and withdrawals after experiencing a cyber security incident on Sunday, June 11.

AccessTimeIconJun 14, 2023 at 7:10 p.m. UTC

Floating Point Group (FPG), an institutional trading desk specializing in cryptocurrencies, suffered a cyber attack on Sunday, June 11, which resulted in a loss of between $15 million and $20 million in crypto, a spokesman for the firm told CoinDesk.

Hacks and breaches are relatively common occurrences in crypto that can happen to almost any firm. That said, FPG had taken steps to ensure it was safe, having engaged outside auditors in December of last year for a series of cybersecurity audits and penetration testing, successfully earning the firm a SOC 2 certification.

After discovering the security breach, FPG locked all third party accounts and secured all wallets. The firm’s account segregation limited the overall impact of the attack, it said.

“We have ceased trading, deposits and withdrawals, out of an abundance of caution,” an FPG spokesman said via direct message. “We are working with the FBI, the Department of Homeland Security, our regulators and Chainalysis to understand how this occurred and to recover assets.”


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Ian Allison

Ian Allison is an award-winning senior reporter at CoinDesk. He holds ETH.

Danny Nelson

Danny is CoinDesk's Managing Editor for Data & Tokens. He owns BTC, ETH and SOL.

Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.

Read more about