Indonesia's largest cryptocurrency exchange, Indodax, suspended all rupiah and cryptocurrency deposits and withdrawals on October 29, 2026, after detecting a coordinated increase in cyberattack attempts. CEO and co-founder William Sutanto announced the precautionary shutdown on his official X account, stating that customer funds remain secure and no data breaches or unauthorized withdrawals have been detected.
According to Indodax's official status page, maintenance notices appeared at 11:30 a.m. Western Indonesian Time (04:30 UTC) for four transaction services: IDR deposits, IDR withdrawals, crypto deposits, and crypto withdrawals. Reports indicate that transfers stopped being processed around 05:24 UTC, or 12:24 local time. Spot trading status remained unverified, though some traders reported limited access to spot markets and the ability to check balances during the freeze.
The exchange has not provided a specific reopening date. Sutanto emphasized that deposits and withdrawals will resume only after the company completes its security assessments and confirms its systems are safe. Indodax directed customers to monitor its official channels for updates and warned users to avoid unsolicited messages from individuals impersonating support personnel.
This marks the second major security incident for Indodax in approximately two years. In September 2024, the exchange suffered a significant breach involving its hot wallet, with security firm Cyvers estimating losses of approximately $20.5 million, while PeckShield initially identified suspicious outflows of around $15.7 million. At the time, former CEO Oscar Darmawan attributed the breach to a malware-laced file downloaded by an IT staffer who took on freelance work using a company laptop—a violation of company policy. Full recovery from that breach took roughly 80 hours and involved six cybersecurity firms, along with regulators Bappebti, OJK, and national police. Indodax claimed it covered the lost reserves in full.
Unlike the 2024 incident, which involved observable on-chain asset movements, this latest disruption was triggered preemptively—before any funds left the exchange. The matching maintenance timestamps across multiple services suggest a coordinated security response rather than an isolated wallet issue. Customers concerned about their balances can download a transaction archive through the exchange's menu (History → Mutation → Download Archive) to verify their activity.
