Floating Point Group (FPG) Halts Withdrawals After Cyber Attack

Introduction

Floating Point Group (FPG), a cryptocurrency trading platform, has temporarily suspended all withdrawals after a cyber attack. The attack occurred on Tuesday, June 29, 2021, and FPG has taken steps to contain the damage and investigate the incident.

What Happened?

According to FPG, the attack was carried out by a group of hackers who managed to breach the platform’s security measures. The hackers were able to steal an unknown amount of cryptocurrency from FPG’s hot wallets, which are used to facilitate trades.

To prevent further damage, FPG has halted all withdrawals and is working to enhance its security measures. The company has also launched an investigation into the incident and is working closely with law enforcement agencies to identify the perpetrators.

Impact on FPG’s Customers

FPG’s decision to halt withdrawals has understandably caused concern among its customers. The company has assured its users that their funds are safe and that it will provide updates on the situation as it progresses.

In the meantime, FPG has urged its customers to enable two-factor authentication (2FA) on their accounts and to monitor their accounts for any suspicious activity.

What’s Next for FPG?

FPG has not yet announced when it expects to resume withdrawals, but it has stated that it is working around the clock to restore services as soon as possible. The company has also said that it will be implementing additional security measures to prevent future attacks.

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Conclusion

The cyber attack on FPG highlights the ongoing threat that hackers pose to the cryptocurrency industry. As more and more people turn to cryptocurrencies for investment and trading, it is essential that companies like FPG remain vigilant and prepared to defend against cyber attacks.

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