PT Indodax Nasional Indonesia has shocked the crypto industry in Indonesia. The crypto exchange platform’s system has been hacked. Web3 security platform Cyvers was the first to discover the hacking of the Indodax system. This finding was then uploaded via the official X account.
Initially, Cyvers said that the suspicious account had held Indodax’s token assets worth US$14.4 million or around Rp217 billion. “Hey @Indodax, our system detected a number of suspicious transactions involving your wallet on a different network,” wrote @CyversAlerts, Wednesday (11/9).
However, Cyvers then revised the potential loss figure to US$18.2 million or around Rp282.1 billion, which was the result of more than 150 transactions.
The incident on Wednesday morning made the Indodax system and website inaccessible. CTO and co-founder, William Sutanto, replied to a post from the official Indodax account, and admitted that a security incident had occurred.
“The team is conducting a full investigation to find out the security gap that was exploited. For the time being, all Indodax features have been stopped, we apologize for this incident.”
A LookonChain social media account published the results of an analysis of suspicious transactions on Indodax with losses reaching US$22 million.
LookonChain is a blockchain analysis tool that takes data from DEX and creates a list of valuable data. LookonChain detected the alleged hack at 3 a.m. last Wednesday.
Wednesday morning was indeed indicated as the time of the hacking crime on the Indonesian crypto platform, where the coins affected included; 6.14 million USDT, 1,047 ETH (worth US$2.48 million), 25 BTC (worth US$1.4 million), 2.2 million MATIC (worth US$849 thousand), 1.4 million ARB (worth US$749 thousand), 2 million ENA (worth US$465 thousand).
