Floating Point Group

Floating Point Group, also known as Floating Point Group, is a cryptocurrency brokerage headquartered in the United States. It provides brokerage services for digital assets, facilitating the buying and selling of cryptocurrencies for its clients. The firm operates within the broader digital asset market, serving participants who seek to trade cryptocurrencies through a brokerage platform. Its core business revolves around offering access to cryptocurrency markets via its brokerage infrastructure.

On June 11, 2023, Floating Point Group experienced a cybersecurity incident that resulted in the estimated theft of $15 to $20 million from the brokerage. In response, the company suspended operations and locked all third-party accounts to prevent further unauthorized access. As part of its remediation, Floating Point Group initiated a migration of its wallets while it worked to determine the full scope of the breach. The incident was reported by cybersecurity news outlets, highlighting the risks faced by cryptocurrency service providers. The firm's actions reflect a cautious approach aimed at protecting customer assets and restoring security. The breach was detailed in a BankInfoSecurity report on the cryptocurrency heist.