An Indonesian hacker is suspected of exploiting a vulnerability in the Markets.com system to steal $398,000 in Crypto Assets and has been arrested by Indonesian authorities.

According to ChainCatcher news and a report by Decrypt, Indonesian authorities have arrested a local hacker who is suspected of exploiting a security flaw in the deposit system of the trading platform Markets.com to steal $398,000 worth of crypto assets. The arrested suspect has only been identified as HS and was detained in Bandung, West Java on Saturday. It is reported that the hacker exploited a system anomaly under the name of Markets.com, where the platform would generate USDT balances based on any deposit amount entered by the attacker, lacking proper backend verification. Police stated that HS created four fake accounts by scraping Indonesian national identification information from public websites. Authorities seized a laptop, mobile phone, CPU device, ATM card, a 152 square meter shop in Bandung, and a cold wallet containing 266,801 USDT, worth approximately $4.2 million. The suspect faces charges of cybercrime and AML, with a maximum penalty of 15 years in prison and a $900,000 fine.