Indonesian cryptocurrency exchange Indodax suffered a major security breach on Tuesday, with over $22 million worth of tokens stolen in an attack on the platform’s hot wallets. The stolen funds include large amounts of Ethereum (ETH), Tron (TRX), Bitcoin (BTC), and Polygon (MATIC), among others.
Details of the Hack
Security firms Slowmist and CertiK reported that over $14 million worth of Ethereum was stolen, along with $2.4 million in Tron, $1.4 million in Bitcoin, and $2.5 million in Polygon tokens. Despite this, Indodax’s wallets still hold over $400 million in assets, suggesting that the hack targeted only a small portion of the exchange’s total holdings.
Indodax is one of Indonesia’s largest centralized exchanges and primarily serves the local market. It recorded $11 million in trading volume in the 24 hours before the attack, according to CoinGecko.
Indodax’s Response
Following the attack, Indodax paused platform operations for “maintenance,” according to an official statement on its X (formerly Twitter) account. However, some users on social media and Telegram have reported missing wallet balances, raising concerns about the extent of the damage.
Adding to the confusion, Indodax’s social media accounts were compromised shortly after the hack. A suspicious giveaway was posted on the exchange’s Instagram page, suggesting further security vulnerabilities.
The exact method used in the attack has not yet been publicly disclosed, and investigators are still working to understand how the breach occurred.
Information source: CoinDesk
