Indodax, one of Indonesia’s largest centralized cryptocurrency exchanges, has fallen victim to a major security breach.
Hackers took over the platform and stole approximately $14.4 million worth of cryptocurrencies. The stolen funds are now being traced to a suspicious address where the tokens were quickly converted to Ethereum (ETH).
Major tokens such as Optimism (OP) and Polygon (POL) were affected by the hack.
So far, no statement has been released regarding the incident through the official channels of the cryptocurrency exchange.
However, it was observed that the hacker applied a tactic to prevent arbitrage traders from gaining an opportunity when converting the funds in question into Ethereum.
The scale of the hacking incident may expand in the coming hours. As Bitcoinsistemi.com, we will continue to inform you of the developments.
*This is not investment advice.