Following the unresolved exploit of the Indian-based WazirX exchange, another prominent Asian crypto exchange has fallen victim to similar circumstances. Notably, Indodax, one of the most popular exchanges in Indonesia, saw about $20 million in crypto funds stolen from the platform over the last day.
The activity which was flagged by multiple blockchain security and transaction tracking services has raised concerns about the safety of user funds on centralized exchanges. According to a recent survey by Cyvers, CEXs have lost over $1.4 billion in hacks since the beginning of 2024, making them the “bullseye for hackers.” This is a result of vulnerabilities in their platforms and the concentration of large funds on single platforms.
Hackers Steal $20 Million From Indodax
According to a report by Spot on Chain, a prominent crypto transaction tracker, Indodax fell victim to a significant breach, resulting in a $20 million theft in several cryptocurrencies. The activity that took place about 9 hours ago from reporting saw coins like Ethereum (ETH), Polygon (POL, formerly MATIC), Tron (TRX), and Bitcoin (BTC) stolen by the perpetrators.
This story is being updated
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