Crypto Exchange Hacked After 150 Suspicious Transactions Drain Over $22,000,000 From Reserves: SlowMist

Blockchain security firm SlowMist is reporting that an Indonesian crypto exchange was hacked for over $22 million in digital assets.

SlowMist says that crypto exchange Indodax saw its hot wallets exploited across multiple blockchains, including Bitcoin (BTC), TRON (TRX), Ethereum (ETH), and ETH layer-2s Polygon (POL) and Optimism (OP).

The firm’s data says that the hackers took about $14.6 million in ETH, $1.4 million in BTC, $2.5 million in POL and $894,000 in OP. Smaller amounts of USDC, USDT, Shiba Inu (SHIB), and Chainlink (LINK) was also stolen.

Source: SlowMist/XSlowMist says the bad actor likely found a way to compromise the crypto exchange’s withdrawal system.

“Based on our analysis, we can rule out the possibility that the hot wallet has been compromised. It is possible that the withdrawal system has been hacked…

The stolen funds were withdrawn from the Indodax exchange’s hot wallet by the hacker using a whole number (1 BTC or 3 BTC), and the remaining bitcoin in this transaction was withdrawn to some addresses as a change.”

According to cybersecurity platform Cyvers, the address associated with the bad actor is swapping the stolen tokens to ETH.

“Our system has detected multiple suspicious transactions involving [Indodax] wallets on different networks. Suspicious address already holds $14.4 million USD and [is] swapping the tokens to Ether.”

Ethereum is trading for $2,337 at time of writing, a fractional increase during the last 24 hours.

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