In the wake of a potential security breach involving Indodax, a major crypto exchange, co-founder William Sutanto has issued a public apology. A user has claimed to have lost approximately IDR 956 million due to the incident.
The initial alert regarding the suspicious activity came from Cyvers Alerts, which posted about it on their X account on the early morning of September 11, 2024. Cyvers detected unusual transactions involving Indodax’s crypto wallet across multiple blockchains.
“Warning to Indodax: Our system has detected suspicious transactions involving your wallet across various networks. These addresses currently hold approximately $14.4 million in crypto and are actively converting tokens into Ether (ETH),” stated Cyvers Alerts.
An earlier post, made an hour before, also indicated over 150 transactions had been detected, with total losses reportedly reaching $18.2 million, equivalent to IDR 280 billion.
This information has fueled speculation that Indodax was indeed hacked. The Indodax team is currently investigating the breach to identify the vulnerability that was exploited.
William Sutanto, via his personal X account, expressed his regrets for the incident and explained that the system had been temporarily suspended.
“Hello, Indodax members. I want to confirm that a security incident occurred this morning. Our team is conducting a thorough investigation to identify the exploited vulnerability. For now, all Indodax features have been paused, and we apologize for the inconvenience,” Sutanto wrote.
Indodax has officially confirmed that they are conducting comprehensive maintenance on their platform, which has temporarily rendered both their website and app inaccessible. However, they reassured users that all balances, whether in crypto or rupiah, remain secure.
“Our security team has detected potential security risks on our platform. We are performing extensive maintenance to ensure all systems are operating smoothly. While the maintenance is ongoing, the Indodax website and app will be temporarily unavailable. Rest assured, your funds are 100% safe, both in crypto and rupiah,” Indodax stated on X.
Oscar Darmawan Assures User Funds Are Safe
Indodax CEO Oscar Darmawan spoke to Kontan, confirming that their internal team had found potential security threats. He assured users that while the investigation is underway, their funds remain safe.
“Indodax is thoroughly investigating the situation to ensure the platform’s security, but we can guarantee that member funds are 100% secure, both in crypto and rupiah,” Darmawan said.
User Claims to Have Lost Nearly IDR 1 Billion
Following the official statement from Indodax, a user responded, claiming that they had lost IDR 956 million during the suspected breach. Indodax quickly replied, reassuring the user that their funds were safe.
“My assets worth 956 million are missing! How is Indodax going to handle this?” the user posted on X.
“Hi there, no worries! We can assure you that all member funds are 100% secure. Please stay calm. Thank you,” Indodax responded.
