Indodax, Indonesian Crypto Exchange, Hacked for $22M, Halts Operations Amid Looming Threat
A recent incident at Indodax, a centralized cryptocurrency exchange catering to the Indonesian market, involved the theft of a relatively small amount of funds. Despite this breach, Arkham data reveals that the exchange’s wallets still hold over $400 million worth of various tokens.
Established in 2014, Indodax has been actively trading cryptocurrencies, with CoinGecko data indicating that it processed over $11 million in transactions within the last 24 hours. The exchange offers a range of tokens paired against the Indonesian rupiah, which currently stands at 15,409 IDR per U.S. dollar as of Tuesday.
Following the security breach, Indodax took swift action by confirming the attack on their X account early Tuesday. In response, platform operations were temporarily halted under the guise of “maintenance” activities. However, concerns were raised as several users on X and the exchange’s Telegram channel reported discrepancies in their wallet balances, indicating potential complications arising from the incident.
