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Indodax Suspected to be Hacked — Co-Founder Apologizes

Sep 11, 2024
  1. Potential Cyberattacks and Cyber Community Reaction
  2. Founders' Apologies and Security Measures
  3. User Opinions and Their Experience

Early this morning, crypto exchange Indodax encountered a possible cyberattack resulting in significant financial losses for users. The company's founders have apologized and assured that emergency measures are being taken to investigate and address the incident.

Potential Cyberattacks and Cyber Community Reaction

The information about a possible cyberattack on Indodax was reported by Cyvers Alerts on their X account. They announced that they detected suspicious activity involving Indodax crypto wallets across multiple blockchains. Cyvers Alerts stated that the suspicious addresses already hold $14.4 million worth of crypto assets and are converting them into Ether (ETH). An hour before this, they also reported over 150 transactions with total losses reaching $18.2 million.

Founders' Apologies and Security Measures

One of the Indodax co-founders, William Sutanto, apologized to users for the incident that caused the system to be temporarily shut down. He reported that the Indodax security team detected a potential threat and a full investigation is underway to identify the weaknesses exploited. Indodax officially announced that the platform is undergoing thorough maintenance to ensure user security. User funds, both crypto and fiat, remain secure.

User Opinions and Their Experience

However, not all users are confident in the security of their funds. One user reported a loss of nearly Rp956 million (approximately $64,000). Indodax representatives responded that all user funds are secure and users should not worry.

Thus, the potential hacking incident at Indodax has led to mixed reactions among users and the community. The crypto exchange is taking emergency measures to ensure platform and user fund security while continuing to investigate the causes and circumstances of the incident.

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