Indodax Suspends Services After $22M Crypto Hack

Indodax, a leading cryptocurrency exchange in Indonesia, has temporarily suspended its services following a significant security breach that resulted in the theft of approximately $22 million. The hackers targeted the exchange's hot wallets, stealing various cryptocurrencies including BTC, ETH, TRX, and MATIC. Over 150 suspicious transactions were detected as the stolen funds were moved and converted into ETH, likely using crypto-mixing services to obscure the trail.

Blockchain security firms like Cyvers and SlowMist have been tracking the suspicious activities, and there is suspicion that North Korea’s Lazarus Group may be behind the attack. Indodax has taken its mobile and web platforms offline for security maintenance and investigation. While the exchange assures users that their assets are safe and has a reserve balance of $369 million, it remains unclear when services will resume. The platform is focused on enhancing its security to prevent future incidents and protect user funds.