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Indonesian crypto exchange Indodax has suffered a hack, where 150 suspicious transactions were detected and resulted in a total loss of $22 million of crypto assets.  

Cyvers Alert, a blockchain security analytics platform, was the first one to detect the hack and noticed that the hacker had already begun swapping the tokens to Ether.  

Another blockchain security firm, SlowMist, reported that of the $22 million loss, $1.4 million and $14.6 million were lost from the Bitcoin and Ethereum blockchains, respectively.  Upon closer investigation, SlowMist claimed that the withdrawal system had been hacked rather than the hot wallet. 

The hacker specifically withdrew whole-number Bitcoin amounts such as 1 BTC or 3 BTC from Indodax’s hot wallet. The remaining BTC from the original transaction was withdrawn to the other address as change. 

For instance, when 3 BTC was withdrawn to the hacker’s wallet address, the remaining 0.9604 BTC was withdrawn to a change address and was deposited on the Indodax crypto exchange. 

In an attempt to reduce any further loss, Indodax made a statement on X, claiming that they are conducting complete maintenance to “ensure the entire system is operating properly.”  

“During this maintenance process, the INDODAX web platform and application are temporarily inaccessible. But don't worry, we can assure you that your balance remains 100% safe both in crypto and rupiah”

Several hours after making their first announcement, Indodax warned users to be careful of scammers who might send fake Indodax refund invitations or requests for personal data. The Indonesian crypto exchange mentioned that Indodax will run normally as soon as the maintenance is complete.