Indodax
Last changed 2026-11-02 · Fact-check review — Fact-check review (verdict: revise): the reviewer checked the page's claims against its sources; the trust score did not change. Version history →
Why this score
| Every page starts at | 65 |
| Incidents it suffered (e.g. hacks) | -12.8 |
| Problems around it, caused by others | -1.6 |
| Long-running | +10 |
| Regulated | +10 |
| Sum | 71 |
Score: 71/100 (kept between 0 and 100)
How scoring works →Page reliability: Fact-checked 2026-11-02 · 5 of 7 claims confirmed · 2 need better sources
anchored·5Xbt3i…jPTBSummary
Indodax (formerly Bitcoin Indonesia) is Indonesia's largest licensed cryptocurrency exchange, founded in 2014 by Oscar Darmawan and William Sutanto and serving over 9.6 million users. In September 2024, the exchange suffered a major security breach attributed to North Korea's Lazarus Group, resulting in approximately $22–25 million in losses across multiple blockchains. The exchange pledged full reimbursement to affected users, resumed operations within roughly 80 hours, and has since undergone a leadership restructuring.
Connected Entities
6 entities · 60 linked investigations- Ethereum→mentioned with→Bitcoin(60%)
- Optimism→mentioned with→Ethereum(80%)
- Indodax→mentioned with→Polygon(60%)
- Indodax→mentioned with→Ethereum(60%)
- Indodax→mentioned with→Bitcoin(70%)
- Indodax→mentioned with→Optimism(60%)
- Indodax→mentioned with→North Korea Lazarus Group — H1 2026 Systematic Crypto Theft Campaign(80%)
- Polygon→mentioned with→Ethereum(70%)
- North Korea Lazarus Group — H1 2026 Systematic Crypto Theft Campaign→mentioned with→Ethereum(60%)
Timeline(12 events)
February 2014
Bitcoin Indonesia (later Indodax) founded by Oscar Darmawan and William Sutanto in Jakarta
2018
Platform rebrands from Bitcoin Indonesia to Indodax
2020
Indodax receives Bappebti PFAK license as Indonesia's first licensed crypto exchange
10 September 2024
Blockchain security firm Cyvers detects first suspicious outflows from Indodax hot wallets
11 September 2024
Indodax suspends all platform services; breach confirmed; Lazarus Group suspected by Cyvers and SlowMist
13 September 2024
Indodax publicly discloses breach and pledges full user reimbursement
14 September 2024
CEO Oscar Darmawan issues written statement attributing attack to DPRK-affiliated actor; cooperation with Bareskrim and BSSN confirmed
14 September 2024
Indodax begins restoring services; recovery completed over approximately 80 hours
31 December 2024
Indonesia issues Government Regulation No. 49/2024 transferring crypto supervision from Bappebti to OJK, effective 10 January 2025
10 January 2025
OJK assumes regulatory oversight of Indonesian crypto exchanges including Indodax
April 2025
OJK publishes expanded crypto asset approved list (1,444 tokens); Indodax included among 29 licensed platforms
19 May 2025
William Sutanto (former CTO) appointed CEO; Oscar Darmawan becomes Chairman
Decision Log
- slot 464459646 · hash AbWPtEoGDHYYgnbouakSzCgCjpovxCm115MHSTGRzUzu
- slot 464459641 · hash FNAaPD1hUYav4YUCLDXYGv57SMvoEfUE1q1XLdNc4hY7
- slot 455367286 · hash EvECED8x8t59MtxA2ViF62SiVs8mTboNRWuEDs3E5Kbb
- slot 420912731 · hash DoDxvQLgU5NawAEfi2inoT4ciDSBkrfVs3ibzViKK98K
This investigation is cryptographically anchored to the Solana blockchain (4 decisions). 16 of 18 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 5/4/2026, 2:54:29 AM
last updated: 11/2/2026, 10:20:26 AM
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