Indodax, an Indonesian cryptocurrency exchange, has temporarily suspended its operations subsequent to a $22 million breach.
The Indonesian crypto exchange Indodax was hacked, resulting in a loss of about $22 million in various cryptocurrencies, including Bitcoin, Ether, and TRX. To investigate, Indodax temporarily shut down its mobile and web services. Blockchain security firms PeckShield, Cyvers, and SlowMist discovered the hack on Sept. 11, reporting that the hacker stole a large amount of different cryptocurrencies.
Investigations suggest the hacker may have exploited Indodax’s withdrawal system, taking over $1.42 million in Bitcoin and $14.6 million in ERC-20 tokens. The stolen funds were being converted to Ether, which hackers usually move through services like Tornado Cash to remain anonymous.
Indodax shut down all operations to investigate the hack and reassured users that their assets were safe and is working to fix the issue. Yosi Hammer from Cyvers suspects that North Korea’s Lazarus Group may be responsible, similar to a $235 million hack on WazirX in July, which was also linked to the group.
