Is There a Connection Between the Indodax Hacker and the BingX Hacker?

Crypto security MistTrack has unearthed a suspected connection between the Indodax hacker and the BingX hacker, who used the same address. 

According to MistTrack, both the Indodax hacker and Bing X hacker used the same address (0x0c74c11..ca1992) to launder money. MistTrack also observed that the Indodax hacker operated on Polygon, while the BingX hacker operated on BSC. The image posted by MistTrack testifies the claim that the two hackers are connected or might even be the same person.

Courtesy: MistTrack

We had earlier reported on September 11, the wallet of the leading Indonesian crypto trading company Indodax had carried out over 150 suspicious transactions on different networks, with a total loss of approximately US$18.2 million, and the suspicious address was exchanging various tokens for Ethereum. It was later discovered by security platforms that Indodax’s signature machine was compromised and the loss which was first estimated to be $18.2 Million actually went on to be $22 Million. The exchange did not come forward with the clarification on the ‘total amount drained’.

On September 20, Singapore’s crypto exchange BingX confirmed the attack after CPO Vivien Lin claimed that the BingX team had detected an abnormal network access on BingX’s hot wallet. The total amount of stolen assets was estimated to be over 43 million US dollars, out of which the exchange reportedly recovered over 700 tokens on October 08.

Also Read: WazirX Reportedly Moved $72.13 Million in Crypto to Bybit Post-Hack