Indonesia’s largest crypto exchange halts over third security scare in two years

Indodax, described as Indonesia’s largest crypto exchange, halted customer deposits and withdrawals at about 05:24 UTC, or 12:24 local time, after CEO William Sutanto said it detected a rise in cyberattack attempts. Sutanto called the pause a security precaution, said customer funds were safe, and gave no reopening date, saying service would resume once safety was confirmed. The exchange said it was rechecking systems to verify that its detection tools met security standards. In September 2024, Indodax lost about $20 million from an internet-connected hot wallet used for routine withdrawals; then-CEO Oscar Darmawan blamed a malware-laced file downloaded by an IT staffer.