Indonesian exchange Indodax faces $15 million loss from apparent exploits: PeckShield

Indonesian cryptocurrency exchange Indodax appears to have experienced exploits that have resulted in losses of about $15.7 million.

PeckShield wrote on X today that it detected large outflows of cryptocurrency worth about $15.7 million from Indodax. Cyvers Alerts also flagged that its system identified multiple suspicious transactions involving Indodax’s wallets on different networks. “Suspicious address already holds 14.4 million USD and swapping the tokens to Ether,” Cyvers said.

According to PeckShield, about 5,204 ETH was parked at an address on Ethereum, along with about 6.8 million POL on Polygon and about 380 ETH on Optimism.

In response to the reported security incidents, Indodax said in a post on X that its security team has discovered potential security issues on its platform. “Currently, we 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,” said Indodax in a translated post.

Indodax added that its clients' funds remained “100% safe” both in crypto and rupiah.

The Indodax team did not immediately respond to The Block’s request for further comment.