Indodax Hacking Concern; Bappebti Monitors Situation, Urges Customers to Remain Calm

TEMPO.CO, Jakarta - The Trade Ministry's Futures Exchange Supervisory Board (Bappebti) has told customers of the cryptocurrency exchange service Indodax not to worry. This statement was issued following suspicions of an attack on Indodax's security system the day before.

Through his official X account @InfoBappebti, the board said it is also monitoring the development of investigations launched by the Indodax team. Bappebti asked asset holders on the Indodax service to remain calm and not to worry.

"Regarding the suspected hacking of the Indodax Crypto Asset transaction system, Bappebti continues to coordinate with Indodax to monitor the progress of the investigation," the September 11 tweet read. "Therefore, business partners, especially Crypto Asset customers on Indodax, should remain calm... Don't worry," read a subsequent tweet.

Earlier, web security firm Cyvers Alerts tweeted a warning of indications of vulnerabilities in Indodax's security system. Cyvers Alerts detected unusual activities in the form of a series of suspicious transactions with an estimated hacking loss of US$18.2 million or more than Rp280 billion.

On its X account, Cyvers Alerts mentioned @Indodax and wrote: "ALERT. Hey @indodax, our system has detected several suspicious transactions involving your wallets on different networks. Suspicious address already holds 14.4 million USD and swapping the tokens to Ether," the tweet posted on September 11 read, to which it replied, "We have detected more than 150 transactions and a total loss of US$18.2 million, @indodax please take an action."

Not long after, Indodax tweeted that its security team had found potential security indicators on the platform. "We are currently carrying out extensive maintenance to ensure that the entire system is functioning properly. During this maintenance process, the Indodax web platform and applications will be temporarily unavailable."

However, Indodax CEO Oscar Darmawan emphasized that the fate of all customer balances is guaranteed safe. In the same tweet, he also confirmed that Indodax customers' balances in crypto and rupiah are guaranteed to be 100 percent safe. " At this time, we can confirm that members' balances in crypto and rupiah are 100 percent safe," he told Tempo on Wednesday, September 11.

Furthermore, Oscar explained that the maintenance and security investigation phase for the entire Indodax system is still ongoing. "But we are performing maintenance to ensure the safety of the entire system. The investigation is still ongoing. We will provide further updates once the investigation is completed," he said.

While waiting for the system to be up and running again, Indodax customers are invited to participate in a raffle that Indodax is running through a random selection system with a total prize of three million per hour for three winners. As of Thursday morning, September 12, indodax.com was still unavailable and undergoing maintenance.

Hanin Marwah

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