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Thursday, September 12, 2024
In the high-stakes game of crypto exchanges, Indodax just crapped out.
Over $25 million vanished faster than you can say rupiah in the latest episode of "Centralized Exchange Calamities: Southeast Asian Edition."
On September 10th, Indodax, Indonesia's largest crypto exchange, learned a costly lesson in the dangers of wallet management and the persistence of sophisticated hacking groups.
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.
In the world of centralized exchanges, "not your keys, not your crypto" isn't just a catchy slogan, it's a warning that keeps ringing true.
In the wake of this Indonesian crypto tsunami, will Indodax's reputation be as leaky as its security protocols?
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We are all rekt.