Indodax Hacked, How Is The Security Of The Crypto Exchange In Indonesia?

Indodax maintenance website after experiencing hacking. (Photo; Doc. Indodax)

JAKARTA - The crypto industry is again shocked by shocking news. Indonesia's leading crypto exchange, Indodax, recently experienced a massive hack that allegedly caused a loss of around US$22 million (around Rp352 billion). The incident was reported by crypto investigation company CyverAlerts and SlowMist on September 11, 2024 this morning.

🚨ALERT📷Hey @indodax , Our system has detected multiple suspicious transactions involving your wallets on different networks. Suspicious address already holds 14.4 million USD and swapping the tokens to Ether.

Want to keep your company off our alerts radar? Learn how to secure… pic.twitter.com/Lzpi5uthXS

— 🚨 Cyvers Alerts 🚨 (@CyversAlerts) September 10, 2024

ALERT Hey @indodax, Our system has detected multiple suspicious transactions involving your wallets on different networks. Susicious address already holdings 14.4 million USD and swapping the tokens to Ether.

Want to keep your company off our arrays radar? Learn how to secure... pic.twitter.com/Lzpi5uthXS

Meanwhile, according to blockchain investigation firm SlowMist, hackers managed to access Indodax's crypto wallet (hot wallet) and sucked up various crypto assets, including Bitcoin (BTC), Ethereum (ETH), Tron (TRX), and Polygon (MATIC).

As one of the largest platforms in Indonesia with more than 6.8 million users, Indodax has been the target of hacking today. This incident raised serious concerns about the security of digital assets and sparked heated debate over the need for increased security systems on crypto exchanges.

Data from CoinGecko shows that prior to the hack, the daily trading volume on Indodax reached more than 11 million US dollars (Rp176 billion). However, post-incidents, these exchanges must stop their website and mobile app services to carry out system investigations and maintenance. In addition to confirming the hack, Indodax also announced a temporary suspension of platform operations for "maintenance."

This hack adds to the long list of security incidents that have affected global crypto exchanges. Indodax is committed to comprehensive system maintenance and ensures that user balance remains safe, both in crypto and rupiah.

Although further details regarding the mechanism for attacks and potential losses have not been disclosed to the public, this incident reiterated the need to detect early threats and swift action in response to hacking attacks.