It's a season of the exchanges getting hacked. And we have one more exchange which got hacked recently. This time it's from the indonesia. 

Centralized exchanges are always the first target for the security exploit. Many of them are poorly maintained. And the unmaintained wallets and the exchange pools are harder to secure. This has created cases like internal hacks in exchanges like WazirX, Mt gox and blockchain.com etc.

Indonesia has the Indodax as one of their popular centralized exchange. And it has recently had the security exploit. This exploit has caused them the lass of 15 Million USD and it’s trending on twitter and news of this exploit news.

So far based on the tweets there is an update that hacker has converted the hacked tokens and converted into the native token. This way things have now out of hands of those operating exchange.

Though the exchange has managed to patch up the loopholes but the damage has been done. And the security exchange would be notified of the loss. And another update says there would be handling of the loss if the investors are insured.

In short it would be possible that this is wazirX like scenario. But here the hackers are so fast and also the lot of updates are hurting the exchanges where the people need to voice up against such hacks.

Once hackers convert the tokens and move the funds outside the nation, there is no way to get out of the same. Digital cash is good but the hacks need to be watched around. Otherwise it’d only hurt the business, investors and add more burden on govt authorities.

In short, 15M on paper and more loss after conversion. And in short market gets one more massive dump before the hackers can make total exit out of the market. Bad news for the exchange investors at the end of the day.