Jakarta. Cryptocurrency exchange Indodax reportedly experienced a major hacking incident, resulting in losses of approximately $18.2 million (Rp 280.2 billion). The Commodity Futures Trading Regulatory Agency (Bappebti) is advising investors to stay calm and not panic.

The incident was first reported by Web3 security company Cyvers Alerts, which revealed that Indodax had experienced 150 suspicious transactions suspected to be part of a hacking operation, with total losses reaching $18.2 million.

“We detected over 150 transactions and a total loss of $18.2 million; Indodax is expected to take action,” Cyvers Alerts stated in a tweet on social media platform X on Wednesday.

As of April 2024, 6.7 million people —approximately 33 percent of Indonesia’s 20.16 million crypto investors— use Indodax.

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In response, Bappebti Head Kasan confirmed that they had received reports about a suspected breach of Indodax’s crypto asset transaction system. Indodax is registered as a Crypto Asset Physical Trader (CPFAK) under Bappebti.

“Bappebti is coordinating with Indodax. We have also summoned Indodax representatives to clarify the case. Currently, Indodax is investigating the suspected breach of their system,” Kasan said in an official statement on Thursday.

Kasan also explained that Indodax is conducting a thorough system shutdown to ensure all systems are operating correctly.

“For this reason, Bappebti urges the public, especially Indodax customers, to stay calm and not panic,” he added.

Indodax CEO Oscar Darmawan confirmed the suspected breach of their transaction system.

“Our transaction system has indeed been suspected of a breach. We are conducting a comprehensive investigation and maintenance of the system. During this process, the Indodax web platform and application are not accessible. However, there is no need to worry, as we ensure that customer balances, both in crypto and rupiah, are secure,” Oscar concluded.

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