By Mark Hunter
2 weeks agoThu Sep 12 2024 09:28:11
Checking out Time: 2 minutes
Indonesian cryptocurrency exchange Indodax has actually momentarily suspended its operations following the loss of $22 million in a hack. The loss was exposed the other day, triggering “comprehensive upkeep” on the platform. Users have actually been cautioned that they will not have the ability to access the platform throughout this duration, however the exchange has actually assured them that their properties are safe.
Indodax Warned of “Potential Security” Issue
Users looked out to the loss through a tweet from Indodax, which explained the problem as a “possible security” concern:
Halo Member INDODAX,
Kami ingin menginformasikan bahwa group security kami menemukan potensi indikasi keamanan pada platform kami.
Saat ini, kami sedang melakukan pemeliharaan menyeluruh untuk memastikan seluruh sistem beroperasi dengan baik. Selama proses pemeliharaan ini, … pic.twitter.com/kYAc6ilERF
— indodax (@indodax) September 11, 2024
Security company Slowmist broadened on the hack, using company information on what was taken:
SlowMist Security Alert
Indonesian crypto exchange @indodax suffered an attack a couple of hours back, with the hacker taking numerous tokens from hot wallets. The overall loss is roughly $22 million. Below are the information of the losses ⬇ pic.twitter.com/r4i0rBbctJ
— SlowMist (@SlowMist_Team) September 11, 2024
Slowmist then used a more comprehensive take on the hack following more analysis eliminating a hot wallet breach and recommending that the hack was down to adjustment of the withdrawal system:
1 Based on our analysis, we can dismiss the possibility that the hot wallet has actually been jeopardized. It is possible that the withdrawal system has actually been hacked.
Let’s dive into it.
Here are the hacked bitcoin deals. The taken funds were withdrawn from the Indodax … https://t.co/hQb0o4ljW8 pic.twitter.com/YCHYX1kg2y
— SlowMist (@SlowMist_Team) September 11, 2024
The hacker took over $1.42 million in Bitcoin, $2.4 million in Tron’s TRX and over $14.6 million in different ERC-20 tokens, with fellow security company Cyvers identifying more than 150 suspicious deals over numerous networks and reporting that the hacker had actually begun switching the tokens to ETH. This is most likely the very first phase in the procedure of exfiltrating the coins through a blending service.
Indodax has actually mentioned that it will upgrade consumers once it has more details however that any losses will be repaid.
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