A hacker in Indonesia is suspected of exploiting a vulnerability in the Markets.com system to steal $398,000 worth of cryptocurrency and has been arrested by Indonesian authorities

According to Decrypt, Indonesian authorities have arrested a local hacker who is suspected of exploiting a security vulnerability in the deposit system of the trading platform Markets.com to steal $398,000 worth of cryptocurrency.

The arrested suspect has only been identified as HS and was detained on Saturday in Bandung, West Java. It is reported that the hacker exploited an anomaly in the Markets.com system, which would generate a USDT balance 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 ID information from public websites. Authorities seized a laptop, a mobile phone, CPU equipment, ATM cards, a 152-square-meter shop in Bandung, and a cold wallet containing 266,801 USDT, valued at approximately $4.2 million. The suspect faces charges of cybercrime and anti-money laundering laws, which could result in a maximum sentence of 15 years in prison and a $900,000 fine.