Bitcoin

DeFi

Million

Planet

<div class="intro-text">
 Indodax, a crypto exchange formerly known as Bitcoin Indonesia, reportedly experienced an attack within the last twelve hours. 
</div>
An unidentified party withdrew tens of millions of dollars worth of crypto assets from the platform.
On September 11, blockchain analytics firm SlowMist <a style="color: #0000ff;" href="https://twitter.com/SlowMist_Team/status/1833707952353812782?t=UxZoI0712ww_X5k02b3PQQ&amp;s=19" rel="noopener noreferrer nofollow">raised alarms</a> in a post on X, reporting that the trading platform had been compromised. The hacker is believed to have stolen approximately $22 million in various tokens from the exchange’s hot wallets.&nbsp;
Cyvers, another blockchain forensic firm, had earlier <a style="color: #0000ff;" href="https://twitter.com/CyversAlerts/status/1833629057256239175?t=r7y9lMj-ZkOuxYZmzsVdgg&amp;s=19" rel="noopener noreferrer nofollow">reported </a>that the stolen assets had already been converted into Ethereum, with on-chain data indicating that altcoins were also swapped into TRON, Polygon, and Bitcoin.
In response to the reports, Indodax’s official page on X <a style="color: #0000ff;" href="https://twitter.com/indodax/status/1833681240735760633?t=gxqfdOvcKNk5cwigs_1V2A&amp;s=19" rel="noopener noreferrer nofollow">announced</a> that its security team had identified a “potential security issue” on the platform. The exchange stated that it is undergoing “complete maintenance” to ensure the system’s proper functionality. Access to the platform has been “temporarily” suspended, with assurances to users that their balances are “100% safe,” both in crypto and rupiah. However, the exchange has not provided details regarding the nature of the hack.
Founded in 2014 by Oscar Darmawan and William Sutanto, Indodax has grown to serve more than <a style="color: #0000ff;" href="https://help.indodax.com/hc/en-us/articles/4881015888793-What-is-Indodax-com" rel="noopener noreferrer nofollow">4.3 million registered</a> and verified users. The exchange highlights its compliance by <a style="color: #0000ff;" href="http://indodax.com/academy/en/about-us/" rel="noopener noreferrer nofollow">holding multiple certifications</a> and permits from Indonesia’s Commodity Futures Exchange Supervisory Board and the Ministry of Communication and Information.
The crypto sector in 2024 has been on a hot streak of attacks and hacks. A June report from blockchain analytics platform PeckShield Alert <a style="color: #0000ff;" href="https://defi-planet.com/2024/07/crypto-industry-lost-176-2m-to-hackers-in-june-2024-peckshield-report/" rel="noopener noreferrer nofollow">revealed</a> that hackers stole $176.2 million in digital assets that month, despite the broader bearish trend in the market. While significant, this represents a 54.2% drop from May’s losses, which totalled $574.6 million. The report also noted that 60% of major hacks targeted decentralised finance (DeFi) protocols, while 40% affected centralised finance (CeFi) platforms.
&nbsp;
If you want to read more news articles like this, visit <a style="color: #0000ff;" href="https://defi-planet.com/" rel="noopener noreferrer nofollow">DeFi Planet</a> and follow us on <a style="color: #0000ff;" href="https://twitter.com/PlanetDefi" rel="noopener noreferrer nofollow">Twitter</a>, <a style="color: #0000ff;" href="https://www.linkedin.com/company/defi-planet/" rel="noopener noreferrer nofollow">LinkedIn</a>, <a href="https://www.facebook.com/DeFi-Planet-129907662611402" rel="noopener noreferrer nofollow">Facebook</a>, <a href="https://www.instagram.com/defi.planet/" rel="noopener noreferrer nofollow">Instagram</a>, and <a style="color: #0000ff;" href="https://coinmarketcap.com/community/profile/DeFiPlanet/" rel="noopener noreferrer nofollow">CoinMarketCap Community</a>.
“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”
The post <a href="https://defi-planet.com/2024/09/indodax-suffers-major-hack-22-million-worth-of-crypto-reportedly-stolen-from-its-hot-wallets/" rel="noopener noreferrer nofollow">Indodax Suffers Major Hack, $22 Million Worth of Crypto Reportedly Stolen From Its Hot Wallets</a> appeared first on <a href="https://defi-planet.com" rel="noopener noreferrer nofollow">DeFi Planet</a>.

Indodax Suffers Major Hack, $22 Million Worth of Crypto Reportedly Stolen From Its Hot Wallets

DeFi Planet

Other articles published on Sep 11, 2024

Indonesian Crypto Exchange Suffers $20 Million Loss in Hack

Tether Invests $100M in Adecoagro, Securing 9.8% Stake in Agricultural Giant

Trade Shiba Inu (SHIB) and Solana (SOL) Perpetual Futures on New Institutional Grade Platform, In...

Gemini report shows that crypto selling has slowed in the last six months

Crypto.com Announces Strategic Partnership with Standard Chartered Bank to Expand Global Retail S...

SWIFT eyes blockchain integration to connect global digital and fiat transactions

Join our free newsletter for daily crypto updates!