In a shocking development on September 11, 2024, Indonesian Crypto Exchange Indodax Hacked the popular Indonesian crypto exchange Indodax was hacked, resulting in the theft of $22 million worth of digital assets. This hack, which specifically targeted the platform’s hot wallets, saw the hacker making off with a variety of cryptocurrencies, including 5,584 ETH ($13M), 6.84M POL ($2.56M), 16.7M TRX ($2.55M), and 25 BTC ($1.41M).
Hacker’s Actions and Exchange Response
The hacker swiftly converted most of the stolen assets into native cryptocurrencies, complicating efforts to recover the funds. The majority of the stolen assets have been parked in Ethereum, TRON, and Bitcoin wallets, while Polygon tokens were also part of the stolen stash.
In response to the breach, Indodax suspended its operations, citing “maintenance” as they work to secure the system. While the platform is offline, the exchange reassured users that their funds are safe. However, customers reported difficulties in accessing their wallets and seeing their balances.
Warnings and Ongoing Investigation
Indodax has issued advisories, warning users to be vigilant against phishing scams and fake refund offers. Multiple blockchain security firms are investigating the exact mechanism of the hack.
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As this story continues to develop, it underscores the increasing risks in the crypto industry, where security breaches and fraud are on the rise.
Stay tuned for further updates as Indodax works to resolve the issue and restore normal operations.
