Indodax Hacked: $22M in Crypto Stolen
The cryptocurrency exchange Indodax has fallen victim to a breach, resulting in the theft of over $22 million across various tokens. The attack, which targeted the platform’s hot wallets, occurred early in the morning of September 10, according to reports from Slowmist and CertiK.
The stolen assets include:
- Over $14 million in Ethereum (ETH);
- $2.4 million in Tron (TRX);
- $1.4 million in Bitcoin (BTC);
- $2.5 million in Polygon (MATIC) tokens.
Smaller amounts of other cryptocurrencies were also taken.
However, according to the analytics platform Arkham, the exchange’s hot wallets still hold over $400 million in cryptocurrencies, making the stolen $22 million relatively modest compared to the platform’s overall balance.
Indodax, operating since 2014, primarily serves the Indonesian market. All cryptocurrency assets on the exchange are traded against the Indonesian rupiah, which was valued at 15,409 IDR per $1 at the time of the breach.
In response to the incident, exchange representatives confirmed the breach, suspended platform operations, and announced that technical maintenance was underway. However, some users on social media and the exchange’s Telegram channel began to report being unable to view their wallet balances, heightening concerns among market participants.
Additionally, there are suspicions that the attackers may have gained access to the company’s social media accounts. Indications of further security issues arose when Indodax’s official account on X mentioned a “giveaway” of Indonesian rupiah on the exchange’s Instagram page.
At present, the exact method of the attack remains unclear and is still under investigation.
