- Indodax suffers a $15.7M loss with stolen funds converted into major cryptocurrencies.
- A security breach at Indodax led to a stolen $15.7M as hackers diversified assets.
- Indodax site was down post-breach, and users’ funds were reportedly safe amid investigation.
Indodax, a prominent Indonesian cryptocurrency exchange, is reeling from a significant security breach that has resulted in a $15.7 million loss. The exchange, known for its role in the Indonesian crypto market, is currently grappling with the aftermath of the exploit.
PeckShield, a prominent blockchain security company, claimed that Indodax suffered an extensive outflow of cryptocurrencies, estimated to be around $15.7 million. The firm disclosed large transfers from the Indodax wallets, which initially sparked the attention of crypto users. These movements were also detected by Cyvers Alerts, which recorded several suspicious transactions in various networks.
Information retrieved from PeckShield shows that the stolen funds consist of approximately 5,204 ETH on Ethereum, 6.8 million POL on Polygon, and 380 ETH on Optimism. These figures show the severity of the violation and the amount of money that was taken.
#PeckShieldAlert Large outflow of cryptos (worth ~$15.7m) from @indodax on #Ethereum, #Polygon & #Optimism
— PeckShieldAlert (@PeckShieldAlert) September 11, 2024
The funds are now parked at the following address:#Ethereum 0x5910…48Df8 (5,204.3 $ETH)#Polygon 0x90Ff…904f (6,843,716.17 $POL)#Optimism 0x3B8F…eB6d (~380 $ETH) pic.twitter.com/li7Dwc9nfJ
Regarding the incident, Indodax has commenced investigation and maintenance processes. The exchange’s security team has identified some risks within the exchange platform and is in the process of mitigating them.
Hacker Moves $4M in Stolen Ether to Tornado Cash from WazirXTherefore, during this process, the Indodax website and application will also be impossible to access. The exchange has, however, assured users that their funds in the form of cryptocurrencies or Indonesian rupiah are safe.
Despite these assurances, the situation remains fluid. Indodax has yet to provide detailed information on the breach or its exact cause. This uncertainty has led to increased scrutiny and concern among users and industry observers.
Halo Member INDODAX,
— indodax (@indodax) September 11, 2024
Kami ingin menginformasikan bahwa team security kami menemukan potensi indikasi keamanan pada platform kami.
Saat ini, kami sedang melakukan pemeliharaan menyeluruh untuk memastikan seluruh sistem beroperasi dengan baik. Selama proses pemeliharaan ini,… pic.twitter.com/kYAc6ilERF
According to recent developments, hackers have converted most of the stolen funds to major cryptocurrencies. The current holdings of the attacker include approximately 5,584 ETH, valued at around 13 million dollars; 6.84 million POL, which is equivalent to $2.56 million; 16.7 million TRX, which is approximately $2.55 million; and 25 BTC, which is equivalent to $1.41 million. This distribution of assets shows that the hacker is trying to diversify the assets that can be seized, hence reducing the chances of regaining the assets.
