Arkham

<h4><strong>The attack, which occurred early Tuesday, led the <a href="https://www.altcoinbuzz.io/?s=exchange" target="_blank" rel="noopener">exchange</a> to pause its operations for “maintenance” as it dealt with the fallout.</strong></h4> 
<p>Indodax, a key player in the Indonesian crypto market, had recorded $11 million in trading volumes on Monday.</p> 
<h5><strong>Indodax Response and Investigation Underway</strong></h5> 
<p>However, the security breach has significantly impacted its operations. According to security researchers on X, the hackers targeted Indodax’s hot wallets, accessing and stealing a substantial sum.</p> 
<p>The stolen assets include over $14 million in tokens such as ETH, $2.4 million in TRX, $1.4 million in BTC, and $2.5 million in MATIC, among other smaller amounts.</p> 
<p><img decoding="async" class="wp-image-150465 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/09/vcxvbcnbvbnhjjkhku-196x300.jpg" alt="" width="548" height="839" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/09/vcxvbcnbvbnhjjkhku-196x300.jpg 196w, https://www.altcoinbuzz.io/wp-content/uploads/2024/09/vcxvbcnbvbnhjjkhku-274x420.jpg 274w, https://www.altcoinbuzz.io/wp-content/uploads/2024/09/vcxvbcnbvbnhjjkhku.jpg 395w" sizes="(max-width: 548px) 100vw, 548px"></p> 
<h6 style="text-align: center;"><strong>Source: <a href="https://x.com/indodax/status/1833681240735760633" target="_blank" rel="noopener">X</a></strong></h6> 
<p>The breach has raised concerns not only about the immediate financial losses but also about the broader security of the platform. Indodax’s response has included pausing platform activity to address and rectify the security issues.</p> 
<p>However, the situation appears to be more complex, with signs of compromised social media activities surfacing. For instance, a <a href="https://x.com/indodax/status/1833763291040219523" target="_blank" rel="noopener">suspicious giveaway announcement</a> on Instagram suggested that the security issues might extend beyond the immediate hack, potentially indicating deeper problems.</p> 
<h5><strong>More About the Indodax Hack</strong></h5> 
<p>Despite the significant theft, the breach involved a relatively small fraction of the exchange’s total holdings. <a href="https://platform.arkhamintelligence.com/explorer/entity/indodax" target="_blank" rel="noopener">Data from Arkham</a> reveals that Indodax’s wallets still hold over $400 million worth of various tokens. This suggests that while the attack was severe, it did not drain the entire reserve of the exchange.</p> 
<p><img decoding="async" class="wp-image-150467 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/09/bvcvbgfrgrertt-300x227.png" alt="" width="545" height="413" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/09/bvcvbgfrgrertt-300x227.png 300w, https://www.altcoinbuzz.io/wp-content/uploads/2024/09/bvcvbgfrgrertt-80x60.png 80w, https://www.altcoinbuzz.io/wp-content/uploads/2024/09/bvcvbgfrgrertt.png 395w" sizes="(max-width: 545px) 100vw, 545px"></p> 
<h6 style="text-align: center;"><strong>Source: <a href="https://x.com/CertiKAlert/status/1833695620101517617?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1833695620101517617%7Ctwgr%5Ec76b28b7f17f414ce905eba24a5dd819ea3db1a5%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fwww.coindesk.com%2Fmarkets%2F2024%2F09%2F11%2Findonesian-crypto-exchange-indodax-hacked-for-22m-pauses-activity-before-bigger-hit%2F" target="_blank" rel="noopener">X</a></strong></h6> 
<p>The incident underscores the increasing vulnerability of cryptocurrency exchanges to sophisticated cyberattacks. As digital assets continue to gain traction, ensuring robust security measures becomes imperative for exchanges and users alike.</p> 
<p>The Indodax hack serves as a stark reminder of the risks inherent in the crypto space and highlights the need for enhanced security protocols to protect against such breaches.</p> 
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<h6><strong>Disclaimer</strong></h6> 
<p>The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.</p> 
<p>The post <a href="https://www.altcoinbuzz.io/cryptocurrency-news/indodax-hack-22m-stolen-exchange-halts-activity/">Indodax Hack: $22M Stolen, Exchange Halts Activity</a> appeared first on <a href="https://www.altcoinbuzz.io">Altcoin Buzz</a>.</p>

Indodax Hack: $22M Stolen, Exchange Halts Activity

Altcoin Buzz

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