Indodax, Indonesia's leading cryptocurrency exchange, recently suffered a major security breach, resulting in a loss of approximately $20.5 million, according to data from Cyvers shared with BSCN.
Details of the Exploit
According to blockchain security firm Cyvers, the exploit affected several cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Tron (TRX), and others. Initial estimates placed the losses at $18.2 million, but the latest tally revealed a total loss of $20.58 million. Breakdowns of losses: * $13.3 million in Ethereum (ETH) * $2.5 million in Tron (TRX) * $2.5 million in Polygon (MATIC) * $1.4 million in Bitcoin (BTC) * $883,000 in Optimism (OP)
Indodax's Response
Indodax temporarily shut down its platform for maintenance, assuring users that both crypto and rupiah funds were secure. In a statement on X (formerly Twitter), Indodax announced: "We have identified a potential security issue and are conducting complete maintenance to ensure the safety of our platform. Your balances remain secure."
Previous Security Challenges for Indodax
This is not the first time Indodax has faced security issues. In June 2023, Indonesian authorities arrested two fraudsters who impersonated Indodax on social media and tricked victims into fraudulent investment schemes, stealing around 625 million Indonesian Rupiah (approximately $40,500).
The Indodax breach is just one in a series of high-profile crypto attacks this year. According to Immunefi’s Q2 2024 Crypto Losses Report, the crypto industry has seen a significant surge in cybercrime, with nearly $570 million stolen across various platforms in Q2 alone.
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