Indodax Hit by $18.2 Million Theft: A Look into the September 10 Hack

The Web3 industry is often associated with anonymity and a space that allows for fast and secure cryptocurrency transactions. However, this field also has a dark side, with hacks and thefts that are extremely difficult to protect against in such a vast financial sector.

In today’s news article, our Coinmooner team wants to share information about an unfortunate incident that led to significant financial losses. It was reported that on September 10th, the Indodax exchange experienced a theft of digital assets amounting to $18.2 million. Using the ETH, OP, and MATIC blockchains, the hacker withdrew funds from eight wallets.

The exchange team is working on resolving this issue. Indodax is a centralized cryptocurrency exchange registered in Indonesia. Its trust index currently stands at X (value to be clarified), and its user base consists of over 3 million traders. The daily trading volume on the exchange is ₿202.17, including 382 coins and 390 trading pairs. The most active trading pair on Indodax is XRP/IDR, with a trading volume of ₿479,870.20. The exchange was founded in 2014 and is an essential platform for cryptocurrency trading.

Indodax Exchange Targeted: $18.2 Million in Digital Assets Stolen in Recent Hack

This incident has sparked a lot of discussion online, and our Coinmooner team has decided to dig into the details of what happened. Early on Wednesday morning, representatives from the Indodax exchange confirmed the news of the hack on their trading platform. To address the threat, the exchange staff began technical maintenance, temporarily unavailable the company's app and website. Despite the reported theft of cryptocurrency, Indodax employees assured clients' funds, both in digital assets and fiat currencies, are entirely safe.

The company reported that its system detected several suspicious transactions conducted using the exchange’s crypto wallets across different networks. According to data provided by the cybersecurity company Cyvers, a suspicious crypto wallet currently holds coins worth $14.4 million, and its owner has already started converting them into Ethereum.

This case is not the first example of a significant theft in the cryptocurrency sector. Protection technologies are constantly evolving, but unfortunately, there are always those who find more sophisticated ways to hack. Coinmooner will closely monitor the situation and promptly update our readers on all essential details. In conclusion, we want to remind you that in the Web3 industry, using the most advanced security methods is crucial to protect your data and financial assets.