Indodax Exchange Hacked: $18.2 Million in Cryptocurrency Stolen
CryptoNewsTerminal Staff10 Sep, 2024
Indodax Exchange Hacked: $18.2 Million in Cryptocurrency Stolen
Blockchain security firm CyberAlert has reported that Indonesian cryptocurrency exchange Indodax has fallen victim to a hack, resulting in the theft of approximately $18.2 million worth of digital assets. According to CyberAlert, over 150 irregular transactions were detected, with the attacker's estimated address holding around $14.4 million in various cryptocurrencies. It is believed that the hacker has already begun swapping some of the stolen funds for Ethereum (ETH). Indodax has acknowledged the incident and is currently investigating the matter. The exchange has suspended all trading and withdrawal operations to prevent further losses and is working with law enforcement agencies to trace the stolen funds. This hack serves as a reminder of the importance of robust cybersecurity measures for cryptocurrency exchanges and the need for investors to exercise caution when storing their digital assets.
