Jakarta. Crypto exchange Indodax has been inaccessible for more than 24 hours following a cyberattack on Wednesday, which compromised approximately $18.2 million (Rp 280.2 billion) in tokens and currency.

The Indodax website currently displays a message apologizing for the inconvenience due to ongoing system updates.

"We apologize for the inconvenience. Indodax is undergoing a system update to enhance your transaction experience," the message on the site reads.

Crypto Exchange Indodax Reportedly Hacked, Bappebti Advises Investors to Stay Calm

CEO Oscar Darmawan said that the company is still conducting forensic security investigations.

"The forensic security investigation is ongoing and has not yet been completed. Once it is finished, all services will be restored," Darmawan told Investor Daily on Thursday.

Indodax management previously reported that their security team identified potential threats. The management added that a comprehensive maintenance process is underway to ensure all systems are functioning properly.

During this maintenance period, both the Indodax website and application are temporarily unavailable. However, Indodax assures investors that their funds, in both cryptocurrency and rupiah, remain 100% secure.

"We appreciate your patience and trust. This process is being carried out to ensure the security and smoothness of your transactions. We will provide further updates once the investigation is completed," the company said.

Earlier, Indodax was suspected of being hacked due to a suspicious transaction of $14.4 million (Rp 215 billion). The hacking suspicion was first revealed by Cyvers Alerts, a security firm, via their X (formerly Twitter) account.

In a post on the @CyversAlert account, the firm warned Indodax of suspicious transactions involving wallets across different networks.

"The suspicious address has accumulated $14.4 million and exchanged tokens for Ether," Beritasatu.com quoted from X on Wednesday.

Following this initial warning, Cyvers Alert detected over 150 additional suspicious transactions, with total losses amounting to $18.2 million (Rp 277 billion).

 The Commodity Futures Trading Regulatory Agency (Bappebti) is advising investors to stay calm and let Indodax conduct a thorough investigation. Indodax is registered as a Crypto Asset Physical Trader (CPFAK) under Bappebti.

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