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Indonesian Crypto Exchange Indodax Hacked, Losses Range from $14.4M to $22M

Sep 10, 2024, 09:59 PM

Indonesian cryptocurrency exchange Indodax has been hacked, resulting in significant financial losses. The attack, which occurred on September 10, 2024, led to the theft of approximately $22 million from the exchange's hot wallets. The stolen assets include 25.01 BTC worth $1.44 million, 16.7 million TRX worth $2.55 million, and various ERC-20 tokens. The hacker has been converting the stolen tokens to Ether, causing a notable 1% increase in the price of ETH. Indodax has reportedly contained the worst of the damage, but the incident highlights the ongoing security challenges faced by the crypto industry. This attack is part of a larger trend in 2024, with over $1.2 billion stolen in 154 attacks, marking a 15.5% increase from 2023. Security firm PeckShield reported the losses at $15 million, while other sources cited $14.4 million.