Indodax Faces $20 Million Loss from Major Exploit
As a result, both the Indodax web and mobile applications were temporarily taken offline.
Indonesian cryptocurrency exchange Indodax has reportedly fallen victim to a security breach, resulting in significant losses of approximately $20.5 million. According to blockchain security firm SpotonChain, the exchange experienced large outflows of cryptocurrency from its platform.
Another security group, Cyvers Alerts, flagged suspicious transactions linked to Indodax’s wallets across multiple networks. Cyvers identified that around $14.4 million had already been moved to suspicious addresses, with tokens being swapped into Ether (ETH).
PeckShield reported that 5,204 ETH was being held on Ethereum, along with 6.8 million POL on the Polygon network, and 380 ETH on Optimism. Following the breach, Indodax released a statement on X, stating that their security team was investigating the issue and conducting full maintenance to ensure platform stability. As a result, both the Indodax web and mobile applications were temporarily taken offline.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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