Indonesian Exchange Indodax Targeted by Hackers

Indonesian cryptocurrency exchange Indodax lost $22 million in various cryptocurrencies and has temporarily disabled its mobile and web applications to conduct a thorough investigation into the breach.

On September 11, several blockchain investigation firms, including PeckShield, Cyvers, and SlowMist, warned of an attack on Indodax’s hot wallets.

The hacker was able to access and steal large amounts of Bitcoin, Tron, Ether, and other cryptocurrencies.

SlowMist’s investigation revealed that the hacker exploited a vulnerability in Indodax’s withdrawal system, allowing them to withdraw funds from the exchange’s hot wallet.

The stolen funds include $1.42 million in Bitcoin, $2.4 million in Tron, over $14.6 million in various ERC-20 tokens, $2.58 million in POL, and $0.9 million in ETH from the Optimism blockchain.