JakartaCryptocurrency exchange Indodax has suffered a major hack that has reportedly caused losses of around $18.2 million (Rp 280.2 billion), with the Commodity Futures Trading Regulatory Authority (Bappebti) advising investors to remain calm and not panic.
The incident was first reported by web3 security firm Cybers Alerts, which revealed that Indodax experienced 150 suspicious transactions suspected to be the result of a hack, with total losses reaching $18.2 million.
“We have detected over 150 transactions and losses totalling $18.2 million. Action will be taken by Indodax,” CybersAlert said in a tweet on social media platform X on Wednesday.
As of April 2024, 6.7 million, or approximately 33%, of Indonesia's 20.16 million crypto investors use Indodax.
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In response, Bappebti's head office confirmed that it had received a report of a suspected intrusion into Indodax's cryptocurrency trading system. Indodax is registered as a cryptocurrency spot trader (CPFAK) under Bappebti.
“Bappebti is working with Indodax and has summoned representatives from Indodax to clarify the incident. Currently, Indodax is investigating the suspected intrusion into its systems,” Kassan said in an official statement on Thursday.
Kassan also explained that Indodax is conducting a thorough system shutdown to ensure all systems are operating properly.
“Hence, Bappebti urges the public, especially Indodax clients, to remain calm and not panic,” he added.
Indodax CEO Oscar Darmawan acknowledged the alleged intrusion into the company's trading systems.
“Our trading system is indeed suspected of being compromised. We are conducting a comprehensive investigation and maintenance of our systems. During this process, Indodax's web platform and applications will be inaccessible. However, there is no need to worry as we ensure that customer balances, both crypto and rupiah, are safe,” Oscar concluded.
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