QUADRIGA INITIATIVE
CRYPTO WATCHDOG & FRAUD RECOVERY PLATFORM
A COMMUNITY-BASED, NOT-FOR-PROFIT
$21 996 000 USD
SEPTEMBER 2024
INDONESIA
INDODAX
DESCRIPTION OF EVENTS
"The Largest Bitcoin and Crypto Asset Trading Platform in Indonesia"
"First in Indonesia 200+ Coins Crypto Assets Listed 6.6 Million Registered Member" "INDODAX always giving you the best price with 24-hour nonstop market. Providing easy and secure crypto trading for everyone." "Buying and selling platform with reasonable price, earn profits without having to be afraid to start." "With a 24-hour market activity, transactions can be made non-stop anywhere and real-time." "Transactions are easier and more secure with our mobile app or website in your hand." "INDODAX is registered and directly supervised by BAPPEBTI and Kemkominfo."
"The stolen funds were withdrawn from the Indodax exchange's hot wallet by the hacker using a whole number (1 BTC or 3 BTC), and the remaining bitcoin in this transaction was withdrawn to some addresses as a change."
"Hey @indodax, Our system has detected multiple suspicious transactions involving your wallets on different networks. Suspicious address already holds 14.4 million USD and swapping the tokens to Ether."
"As alerts of the exploit spread, observers watched in fascination as the hackers performed their dark magic, siphoning funds across multiple chains with the finesse of a digital David Copperfield."
"We are still in the process of investigating this case. For Indodax users, there is no need to worry because Indodax will cover the losses from this hacking case. Your assets are SAFU."
"We would like to provide an update on our ongoing efforts to ensure the security and stability of the INDODAX system. We are currently working with an external party that specializes in Cyber Security Forensic Investigation to conduct a thorough audit of our database, software, and servers. This is part of our commitment to continuously improve the security of the platform."
"We have found a security hole exploit used by the attacker and are remediating the hole. Currently, together with several world-class cybersecurity consulting, we are conducting an intensive audit to ensure that there are no more exploits/backdoors in the system. Once this can be confirmed, we will immediately open platform access to the public. This is to ensure that member assets remain safe and there are no similar incidents.
In the next few days the system will be back up, member asset balances, both Rupiah and crypto, will be exactly the same as before the maintenance. After all maintenance is complete, assets can be traded or sent as usual.
Indodax apologizes profusely for this incident. Thank you for your patience in waiting for the system to be back up."
Indodax is the largest and oldest cryptocurrency exchange in Indonesia. On September 10th, it was found that hackers were repeatedly exploiting the hot wallet withdrawal system to siphon funds from the platform. The platform was shut down for an investigation, which was able to determine the case of the exploit. Indodax has reported that they plan to cover all losses of platform users and will be relaunching after the completion of a full security audit.
Rekt - Indodax - Rekt (Sep 13)
@CyversAlerts Twitter (Sep 13)
@CyversAlerts Twitter (Sep 13)
@lookonchain Twitter (Sep 13)
Arkham (Sep 13)
Ethereum Transaction Hash (Txhash) Details | Etherscan
(Sep 13)
Indodax Exploiter 1 | Address 0xb0a2e43d3e0dc4c71346a71484ac6a2627bbcbed | Etherscan
(Sep 13)
Ethereum Transaction Hash (Txhash) Details | Etherscan
(Sep 13)
@RektHQ Twitter (Sep 13)
@SlowMist_Team Twitter (Sep 13)
@SlowMist_Team Twitter (Sep 13)
@WilliamSutant0 Twitter (Sep 13)
@WilliamSutant0 Twitter (Sep 13)
@indodax Twitter (Sep 13)
@indodax Twitter (Sep 13)
@indodax Twitter (Sep 13)
@kelukesahcrypto Twitter (Sep 13)
Jual Beli Bitcoin dan Trading Kripto Indonesia - INDODAX (Sep 13)