Key Highlights:
- Hackers stole $20 million across major networks like Ethereum, Polygon, and Bitcoin in a coordinated attack on IndoDax.
- IndoDax’s explosive growth from 9.9 million to 28.52 million users since 2021 puts the exchange in a vulnerable position as it scrambles to regain control.
Yello Paradisers! If you thought your funds were untouchable, think again. IndoDax, Indonesia’s largest crypto exchange, just suffered a massive breach, losing $20 million in digital assets.
As the dust settles, users are left wondering: is my crypto safe? If you’re an IndoDax trader, you might want to check in, because this isn’t just another minor hiccup.
Hackers Strike IndoDax for Millions in ETH, MATIC, and BTC
The breach occurred nine hours before anyone noticed, giving hackers plenty of time to make their move. According to Cyvers, the Web3 security firm that first flagged the attack, the hackers managed to swipe funds across Ethereum, Polygon, Tron, and Bitcoin networks.
The tally? A cool 5,584 ETH (worth $13 million), 6.84 million MATIC ($2.56 million), 16.7 million TRX ($2.55 million), and 25 BTC ($1.41 million). It’s not pocket change, Paradisers, this is a serious hit.
But here’s the kicker: Cyvers identified over 150 suspicious transactions, urging IndoDax to act fast before things got worse. The exchange responded by shutting down its web and mobile apps for a full system check, reassuring users their funds in both crypto and Indonesian Rupiah were secure. But let’s be honest, when an exchange goes dark, it’s hard not to feel a little uneasy.
IndoDax Under Pressure as User Base Soars
This hack couldn’t have come at a worse time for IndoDax, which has seen explosive growth, surging from 9.9 million users in 2021 to 28.52 million in 2024. Just before the attack, IndoDax boasted $11.5 million in 24-hour trading volume. Now? It’s in full crisis mode, with the entire community on edge, waiting for updates as investigations continue.
With millions of users on high alert, IndoDax’s future could hinge on how swiftly it navigates this crisis. Keep your eyes peeled, this could be a game-changer for one of Asia’s largest exchanges.
