BABUK RANSOMWARE: A VICTIM OF INDODAX HACK
In this article, we are going to witness a case study where a Ransomware Group had lost their “hard-earned” ransom amount to another Crypto Exchange Heist.
INTRODUCTION
On January 26th, 2025; Babuk the popular ransomware made a comeback by announcing their Babuk 2.0 Project.
Among the contacts and other details, interestingly I found their Bitcoin Wallet Address as:
BABUK Wallet: 1JdvS63gBEFH3auYStgeSB3Q2xMdi5cZi
Babuk has been using Indodax Exchange, which is the biggest Crypto Trading Application in Indonesia 🇮🇩
Upon checking the balance, we can see the group had made about $21,964 (alone in this wallet).
Babuk Group regularly transfers their money to a primary Hot wallet that belongs to Indodax Exchange i.e. 1JUToCyRL5UwgeucjnFAagKs4v1YqhjT1d
The first transfer happened on 20th August 2023 by transferring $504 to Indodax Hot Wallet.
In total, the group had moved about $7,017 to this Hot Wallet. The last transaction from Babuk (to this wallet) was dated on 27th April 2024.
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