As a seasoned crypto investor with years of experience navigating the volatile digital asset market, this recent news about Indodax’s security breach is certainly disheartening. Having witnessed numerous hacks and scams in the past, I can’t help but feel a sense of deja vu.
As a crypto investor, I’ve learned that Indodax, a popular Indonesian cryptocurrency exchange, has apparently suffered a security breach. This unfortunate event is estimated to have resulted in substantial losses amounting to approximately $20.5 million. According to reports from blockchain security firm SpotonChain, there were significant outflows of cryptocurrencies from the Indodax platform, suggesting an unauthorized withdrawal of funds.
As a researcher, I’ve recently come across an alert from Cyvers Alerts regarding unusual transactions traced back to Indodax’s wallets across various networks. Notably, Cyvers has detected the movement of approximately $14.4 million towards suspicious accounts, with the tokens being exchanged into Ether (ETH).
PeckShield revealed that approximately 5,204 ETH, together with 6.8 million POL, and 380 ETH were stored on Ethereum, Polygon, and Optimism networks respectively. After the security breach, Indodax announced through a statement on X that their tech team was probing the incident and performing system-wide maintenance to secure platform integrity. Consequently, both Indodax’s web and mobile platforms were momentarily deactivated.
Additional information indicates that the hacker has successfully replaced a large portion of the stolen cryptocurrencies. Currently, they are in possession of approximately 5,584 Ether (equivalent to around $13 million), about 6.84 million Polygon tokens ($2.56 million), roughly 16.7 million TRON tokens valued at $2.55 million, and around 25 Bitcoins worth $1.41 million.
Indodax, Indonesia’s biggest crypto platform, hasn’t publicly addressed the reported hack yet. Boasting a user base surpassing 28.5 million by 2024 and offering Islamic coins and various cryptocurrencies, the exchange has continued its operations amidst the security incident. In the past 24 hours, Indodax handled a trading volume of approximately $11.5 million, with Ethereum transactions accounting for about $415,518 of that total.
Read More
Sorry. No data so far.
2024-09-11 10:28