Indodax Hacked: $22 Million Stolen in Major Security Breach

Ecem EFE11/09/20241 Mins read284

Indodax Hacked: $22 Million Stolen In Major Security Breach

Indodax Hacked: Suspicious Instagram Giveaway and User Impact

Indodax Hacked – Indodax, an Indonesia-based cryptocurrency exchange, has suffered a significant security breach, resulting in the theft of over $22 million worth of various tokens. The attack, which reportedly targeted the exchange’s hot wallets, has been confirmed by the platform, leading to a temporary pause in operations for “maintenance.”

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Details of the Attack

According to security researchers on X and firms like Slowmist and CertiK, the breach involved the theft of $14 million worth of ether (ETH), $2.4 million in Tron’s TRX, $1.4 million in bitcoin (BTC), and $2.5 million in Polygon’s MATIC, along with smaller amounts of other tokens. Despite this substantial theft, the total stolen amount is relatively minor compared to the exchange’s total holdings, which remain over $400 million worth of various tokens, as reported by Arkham data.

Exchange Operations and User Impact

Indodax, established in 2014, primarily serves the Indonesian market and facilitates cryptocurrency trading with the Indonesian rupiah (IDR), currently valued at 15,409 IDR per U.S. dollar. Over the past 24 hours, the exchange traded more than $11 million worth of cryptocurrencies, according to CoinGecko.

The exchange confirmed the attack on their X account early Tuesday, announcing that platform operations were paused due to “maintenance.” However, users on X and the exchange’s Telegram channel reported that they were unable to view their wallet balances. Adding to the concern, Indodax’s Instagram page is promoting a suspicious “giveaway” of Indonesian rupiah, which suggests the possibility of further security issues or compromise.

Ongoing Investigation and Concerns

The precise details of how the attack was executed are still unclear and remain undisclosed as of the European morning hours. The investigation into the breach is ongoing, and more information will be provided as it becomes available.

FAQ: Indodax Exchange Security Breach

What happened with Indodax?

Indodax, an Indonesia-based cryptocurrency exchange, was hacked early Tuesday, resulting in the theft of over $22 million worth of various tokens. The attack targeted the exchange’s hot wallets.

What tokens were stolen in the Indodax hack?

The stolen assets include over $14 million worth of ether (ETH), $2.4 million in Tron’s TRX, $1.4 million in bitcoin (BTC), and $2.5 million in Polygon’s MATIC, among other smaller amounts of tokens.

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Ecem EFE

Since 2022, Ecem has been creating digital content, combining her passion for technology with writing. Continuing her education in the Mathematics department, Ecem focuses on producing in-depth content on areas such as blockchain, artificial intelligence, and cryptocurrency. She aims to simplify these topics and present them to a wide audience, sharing valuable insights into the crypto industry through her writing. With her innovative content, she strives to raise awareness in the digital world.