🚨 Indodax Hack: A Costly Reminder of Exchange Vulnerabilities

Indonesia’s largest cryptocurrency exchange, Indodax, was hacked, resulting in the loss of $22 million in $BTC $ETH $TRX and other cryptocurrencies. The breach, which targeted vulnerabilities in the withdrawal system, has led to a suspension of operations while the incident is investigated.

🔑 What we can learn from this:

💡Centralized exchanges, with their use of hot wallets, remain attractive targets for hackers.
💡Self-custody and cold wallets are safer options for long-term cryptocurrency storage.
💡“Not your keys, not your crypto.”

#Indodax #IndodaxHack #HackerAlert #ExchangeIndonesia

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Periode: January 30 - February 6 2024
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