tl;dr
Indonesian exchange Indodax has suffered a $20 million crypto hack, with the hacker now holding assets including Bitcoin, Ethereum, POL, and Tron. The exchange is conducting maintenance, and has yet to release a complete report on the hack. This incident highlights ongoing concerns about crypto scam...
Indonesian exchange Indodax suffers $20 million crypto exploit, hacker now holds crypto assets including Bitcoin, Ethereum, POL, and Tron
The exploiter has swapped most of the stolen funds for cryptocurrencies including Bitcoin, Ethereum, POL, and Tron. The Indonesian crypto exchange Indodax recently suffered a crypto hack, with the exploiter stealing $20 million. Onchain data shows that the hacker has swapped the stolen funds to major crypto assets, including Bitcoin and Ethereum.
INDODAX LOSES $20 MILLION IN CRYPTO HACK
A SpotOnChain report showed that the Indonesian crypto exchange Indodax had suffered a $20 million crypto hack. The platform further stated that the hacker had swapped most of the stolen assets for native cryptocurrencies. The hacker currently holds 5,204 ETH ($12 million), 25 BTC ($1.41 million), 6.84M POL ($2.56 million), and 16.7M TRX ($2.55 million), among several other crypto assets.
Meanwhile, Indodax has yet to release a complete report on how the crypto hack occurred. Following the exploit, the crypto exchange informed its customers in an X post that their security team had discovered a “potential security issue” and was conducting complete maintenance to ensure that their entire system was operating properly. Currently, we are conducting a 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. In its most recent X update, Indodax indicated that the maintenance was still ongoing after the crypto hack.
Interestingly, the exchange also announced a giveaway of 3 million Rupiah ($195) while customers waited for the maintenance to be over.
CRYPTO CRIMES REMAIN A CONCERN
The recent exploit on the Indonesian crypto exchange Indodax again highlights how crypto scams remain a major concern. In July, the Indian exchange WazirX was hacked, with $230 million stolen. Amid an ongoing investigation, the hacker has continued to move the stolen funds. Coingape recently reported that the WazirX hacker transferred 10,000 ETH ($23 million). The hacker moved 5,000 ETH through Tornado Cash to make them untraceable, while the other half was moved to another address so they could launder the funds. In a bid to fight crypto crimes, Tether and TRON recently collaborated to form the T3 financial crime unit alongside TRM labs. Although the unit’s major focus will be to fight illicit activities involving USDT, it is a step in the right direction as more crypto stakeholders collaborate to combat crypto exploits.
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In the current market landscape, the S&P 500 index has shown resilience, maintaining a steady upward trajectory. The 50-day moving average continues to provide reliable support, indicating a bullish trend.
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After conducting a comprehensive technical analysis, it is evident that the S&P 500 index is currently testing a critical support level at 4,200. Should this level hold, a potential bullish reversal could be in play, with resistance levels at 4,350 and 4,400.
The Nasdaq Composite index has exhibited a bearish divergence on the Relative Strength Index (RSI), indicating a possible weakening of bullish momentum. Immediate support is seen at 13,500, with resistance levels at 14,000 and 14,200.
Furthermore, the Dow Jones Industrial Average is consolidating near the 34,000 level, with a bullish bias if it can hold above this support. Upside resistance is identified at 34,500 and 35,000, while downside risk exists if the support is breached.
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More about Tanzanian Royalty Exploration Corp
Tanzanian Royalty Exploration Corp, Tanzanian Gold Corporation is engaged in the exploration and development of mineral property interests in the United Republic of Tanzania. The company is headquartered in Vancouver, Canada.
ENERGY & TRANSPORTATION
GOLD AND SILVER ORES
Market Cap: 105787000
Dividend Yield: None
Beta (5Y Monthly): None
Price to Revenue Ratio: 0
Earnings Per Share (EPS): 0.127
Profit Margin: -0.0306
Shares Outstanding: 36723000
Forward Annual Dividend Rate: 1.38
Forward Annual Dividend Yield: 2.549
Payout Ratio: 0.625