Cryptocurrency exchange suffers attack and loses more than R$100 million

Additionally, security firm PeckShield also reported that it detected significant cryptocurrency outflows from Indodax. According to the firm’s research, the outflows totaled around $15.7 million.

According to PeckShield data, the hackers transferred around 5,204 ETH to an address on the Ethereum blockchain. Meanwhile, another 6.8 million POL tokens were moved on the Polygon network and another 380 ETH on the Optimism network.

Cryptocurrency exchange suffers hack attack

In response to the attack, the Indodax team published a note on its official X social media account (formerly Twitter). The team acknowledged the potential security issues on its platform.

However, according to the company, its technical team is carrying out full maintenance to ensure the proper functioning of the entire system. During this period, both the exchange’s website and app are temporarily unavailable, as reported by the exchange.

Despite the hack, cryptocurrency exchange Indodax assured that its customers’ funds, both in cryptocurrencies and Indonesian rupiah, remain “100% safe.” However, the company did not provide additional details about the protective measures it has taken or the progress of the investigation.

Indodax has not responded to requests for comment from the press at this time. The full extent of the attack and the potential long-term impacts on the platform are still under review by the cryptocurrency exchange’s security experts.

Cryptocurrency losses

As Afrilatest recently reported , last month, the cryptocurrency market suffered losses of US$313 million due to more than ten different hacker attacks, according to data from PeckShield. Of the total stolen funds, 93.5% came from two major attacks, including a theft of 4,000 Bitcoins (BTC).

According to a post by blockchain security firm PeckShield, the two incidents combined resulted in a loss of around $293.4 million.

In addition to the WazirX theft, an unknown whale lost over 4,000 BTC, valued at around $238 million at the time of the attack. The theft occurred after the investor fell victim to a phishing scam that hacked his wallet, stealing all of his BTC.

In the second hack, another major investor lost around $55.4 million worth of Dai (DAI), again due to a phishing attack. The hacker managed to break into the wallet and exchanged all the DAI for Ethereum (ETH). In both cases, the investors were unable to recover their lost money.

Exchange suffers attack and loses more than R$100 million