Audit log

Every state-changing event for Indodax: moderation decisions on community submissions, plus corrections and updates from the news pipeline. URL-based decisions are designed to carry three independent witnesses — the original source, an Internet Archive snapshot, and a Solana memo signed by our publicly-disclosed publisher key. Archive coverage is still being backfilled, so each decision below reports its own snapshot status rather than assuming one exists.

1. #1publishby system:backfill

   2026-05-20 04:21:58Z
   Score: ? → ? (no score change)
   anchoranchored

   chain

   ●mainnet-betaslot 420,912,731

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   5Xbt3iRhvtmD…xgQWjPTBcopyexplorer ↗

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   DoDxvQLgU5Na…zViKK98Kcopysha256 → base58

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   canonical bytes (5819 B) ▸

   {"actor":"system:backfill","investigation_id":"cc689b31-8f17-4c11-9d46-ba24666cce1c","kind":"publish","page_slug":"indodax","published_at":"2026-05-20T04:21:58.624Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"Indodax","sections":[{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"","type":"other","url":"https://coinmarketcap.com/exchanges/indodax/"},{"credibility":3,"name":"","type":"other","url":"https://www.lexology.com/library/detail.aspx?g=7a498fdd-ad79-4f74-a489-a33f94eac135"},{"credibility":3,"name":"","type":"other","url":"https://indotech.group/indodax-announces-leadership-restructuring-william-sutanto-appointed-as-new-ceo/"}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"","type":"other","url":"https://en.antaranews.com/news/325999/north-korea-affiliated-actor-likely-hacked-crypto-exchange-indodax"},{"credibility":3,"name":"","type":"other","url":"https://invezz.com/news/2024/09/11/indodax-hacked-for-22-million-lazarus-group-suspected/"},{"credibility":3,"name":"","type":"other","url":"https://therecord.media/indodax-crypto-exchange-pledges-to-reimburse-after-theft"},{"credibility":3,"name":"","type":"other","url":"https://www.nknews.org/2024/09/north-korean-cybercriminals-steal-22m-from-indonesian-crypto-exchange/"},{"credibility":3,"name":"","type":"other","url":"https://coinmarketcap.com/academy/article/indodax-crypto-exchange-suffers-major-hack-over-dollar22-million-in-losses"}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"","type":"other","url":"https://www.merklescience.com/blog/hack-track-indodax-flow-of-funds-analysis"},{"credibility":3,"name":"","type":"other","url":"https://www.bitget.com/news/detail/12560604205326"},{"credibility":3,"name":"","type":"other","url":"https://www.bittime.com/en/blog/hacker-indodax-dan-bingx-diduga-hacker-korea-utara-lazarus-group"},{"credibility":3,"name":"","type":"other","url":"https://www.thecoinrepublic.com/2024/09/12/is-your-crypto-safe-indonesia-exchange-indodax-hacked-for-22m/"}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"","type":"other","url":"https://www.lexology.com/library/detail.aspx?g=7a498fdd-ad79-4f74-a489-a33f94eac135"},{"credibility":3,"name":"","type":"other","url":"https://bitcoinethereumnews.com/crypto/indonesias-ojk-licenses-29-crypto-platforms-under-new-regulation/"},{"credibility":3,"name":"","type":"other","url":"https://ojk.go.id/en/fungsi-utama/itsk/perizinan-itsk-aset-keuangan-digital-aset-kripto/default.aspx"}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"","type":"other","url":"https://therecord.media/indodax-crypto-exchange-pledges-to-reimburse-after-theft"},{"credibility":3,"name":"","type":"other","url":"https://en.antaranews.com/news/325999/north-korea-affiliated-actor-likely-hacked-crypto-exchange-indodax"},{"credibility":3,"name":"","type":"other","url":"https://www.digivestasi.com/news/detail/aset_kripto/indodax-finished-maintenance-user-funds-ensured-safe-services-return-to-normal?lang=eng"}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"","type":"other","url":"https://hacken.io/discover/lazarus-group/"},{"credibility":3,"name":"","type":"other","url":"https://www.halborn.com/blog/post/month-in-review-top-defi-hacks-of-september-2024"},{"credibility":3,"name":"","type":"other","url":"https://blockchaingroup.io/compliance-and-regulation/top-10-crypto-losses-of-2024-hacks-frauds-and-exploits/"}]}],"sources_used":[],"summary":"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.","timeline":[{"date":"2014-02-01","event":"Bitcoin Indonesia (later Indodax) founded by Oscar Darmawan and William Sutanto in Jakarta","source":""},{"date":"2018-01-01","event":"Platform rebrands from Bitcoin Indonesia to Indodax","source":""},{"date":"2020-01-01","event":"Indodax receives Bappebti PFAK license as Indonesia's first licensed crypto exchange","source":""},{"date":"2024-09-10","event":"Blockchain security firm Cyvers detects first suspicious outflows from Indodax hot wallets","source":""},{"date":"2024-09-11","event":"Indodax suspends all platform services; breach confirmed; Lazarus Group suspected by Cyvers and SlowMist","source":""},{"date":"2024-09-13","event":"Indodax publicly discloses breach and pledges full user reimbursement","source":""},{"date":"2024-09-14","event":"CEO Oscar Darmawan issues written statement attributing attack to DPRK-affiliated actor; cooperation with Bareskrim and BSSN confirmed","source":""},{"date":"2024-09-14","event":"Indodax begins restoring services; recovery completed over approximately 80 hours","source":""},{"date":"2024-12-31","event":"Indonesia issues Government Regulation No. 49/2024 transferring crypto supervision from Bappebti to OJK, effective 10 January 2025","source":""},{"date":"2025-01-10","event":"OJK assumes regulatory oversight of Indonesian crypto exchanges including Indodax","source":""},{"date":"2025-04-01","event":"OJK publishes expanded crypto asset approved list (1,444 tokens); Indodax included among 29 licensed platforms","source":""},{"date":"2025-05-19","event":"William Sutanto (former CTO) appointed CEO; Oscar Darmawan becomes Chairman","source":""}]},"v":1}

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2. #2rescoreby systemsystem

   2026-10-10 18:47:24Z
   Score: 28 → 71 (+43)
   Rescored under Scoring v2, the published formula (avoid.net/scoring): 28 → 71. Problems weighed by who is responsible: incidents the subject suffered −12.8, problems around the subject, caused by others −1.6; legitimacy credit long-running +10, regulated +10.
   anchoranchored

   chain

   ●mainnet-betaslot 455,367,286

   sig

   DhergDsWa8v1…Pdbpvtnwcopyexplorer ↗

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   EvECED8x8t59…Ds3E5Kbbcopysha256 → base58

   verifying row…full verify ↗

   canonical bytes (621 B) ▸

   {"actor":"system","decided_at":"2026-10-10T18:47:24.082Z","decision":"rescore","investigation_id":"cc689b31-8f17-4c11-9d46-ba24666cce1c","new_score":71,"page_slug":"indodax","prev_score":28,"reason":"Rescored under Scoring v2, the published formula (avoid.net/scoring): 28 → 71. Problems weighed by who is responsible: incidents the subject suffered −12.8, problems around the subject, caused by others −1.6; legitimacy credit long-running +10, regulated +10.","score_delta":43,"score_model":"v2","sequence_num":2,"submission_content_hash":null,"submission_id":null,"submission_kind":null,"submission_valence":null,"v":1}

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3. #3reviewby reviewerreviewer

   2026-11-02 10:20:25Z
   Score: 71 → 71 (no score change)
   The core hack narrative (Sept 2024, about $22-25M, Lazarus suspected, Merkle Science breakdown) and the May 2025 leadership change hold up against the sources I fetched. The 5,000 ETH Tornado Cash figure is not supported by the cited analysis and may come from WazirX coverage. The 'OFAC-sanctioned' label may also be out of date. The 2020 'first licensed' timeline claim is unsourced. The page omits the January 2026 member fund-loss allegations and OJK summons.
   anchoranchored

   chain

   ●mainnet-betaslot 464,459,641

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   5ynAD63vrAjq…HgYFRx7vcopyexplorer ↗

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   FNAaPD1hUYav…LdNc4hY7copysha256 → base58

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   canonical bytes (1310 B) ▸

   {"actor":"reviewer","artifact_identity":"7e8d14b052c2beb984ba16ffd28f6069","decided_at":"2026-11-02T10:20:25.625Z","decision":"review","disputed_pct":0.2857,"findings_hash":"7dDH6b3XWApp6wdKDycZkGAnM6JeX1uw3JZuv9TtkUAs","investigation_id":"cc689b31-8f17-4c11-9d46-ba24666cce1c","judge_def_hash":"8800307026131ea9d5da939d32b9a1f1884b2b84a5de33c8e87931d36f38d0f8","new_score":71,"omissions":{"material":1,"total":2},"page_content_hash":"67af93f1a1181f0df06f9cb16be3f39a705c3f9d7fbcca9e3427178b70d3688d","page_slug":"indodax","prev_score":71,"reason":"The core hack narrative (Sept 2024, about $22-25M, Lazarus suspected, Merkle Science breakdown) and the May 2025 leadership change hold up against the sources I fetched. The 5,000 ETH Tornado Cash figure is not supported by the cited analysis and may come from WazirX coverage. The 'OFAC-sanctioned' label may also be out of date. The 2020 'first licensed' timeline claim is unsourced. The page omits the January 2026 member fund-loss allegations and OJK summons.","reviewer_def_hash":"bc11388ce4bc4deea1b064fea362663ae06e3f4f687f99604769044d6ffba770","score_delta":0,"sequence_num":3,"subject_status":"operating","subject_status_contradicts_page":false,"submission_content_hash":null,"submission_id":null,"submission_kind":null,"submission_valence":null,"v":1}

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4. #4review reviseby judgejudge

   2026-11-02 10:20:25Z
   Score: 71 → 71 (no score change)
   Of 7 claims checked, 2 could not be verified (claim_findings[1], the 5,000 ETH Tornado Cash figure, which the cited Merkle Science report does not contain; and claim_findings[4], the unsourced 2020 'first licensed' timeline entry), giving about 29% disputed. The core hack narrative, the Merkle Science loss breakdown and the May 2025 leadership change were confirmed. The page also omits the January 2026 member fund-loss allegations and OJK summons (omission_findings[0], material), which weighs more than the percentage alone suggests, so the penalty is raised to the significant band. Because reviewer confidence is moderate (0.55) and the exchange is confirmed operating, the penalty is kept at the low end of that band.
   anchoranchored

   chain

   ●mainnet-betaslot 464,459,646

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   2tty3KGQtYxC…tmrRz8C4copyexplorer ↗

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   AbWPtEoGDHYY…STGRzUzucopysha256 → base58

   verifying row…full verify ↗

   canonical bytes (1776 B) ▸

   {"actor":"judge","artifact_identity":"7e8d14b052c2beb984ba16ffd28f6069","band_override":null,"decided_at":"2026-11-02T10:20:25.625Z","decision":"review_revise","delist_requested":false,"disputed_pct":0.2857,"investigation_id":"cc689b31-8f17-4c11-9d46-ba24666cce1c","judge_def_hash":"8800307026131ea9d5da939d32b9a1f1884b2b84a5de33c8e87931d36f38d0f8","new_score":71,"page_slug":"indodax","prev_score":71,"reason":"Of 7 claims checked, 2 could not be verified (claim_findings[1], the 5,000 ETH Tornado Cash figure, which the cited Merkle Science report does not contain; and claim_findings[4], the unsourced 2020 'first licensed' timeline entry), giving about 29% disputed. The core hack narrative, the Merkle Science loss breakdown and the May 2025 leadership change were confirmed. The page also omits the January 2026 member fund-loss allegations and OJK summons (omission_findings[0], material), which weighs more than the percentage alone suggests, so the penalty is raised to the significant band. Because reviewer confidence is moderate (0.55) and the exchange is confirmed operating, the penalty is kept at the low end of that band.","reviewer_def_hash":"bc11388ce4bc4deea1b064fea362663ae06e3f4f687f99604769044d6ffba770","score_delta":0,"sequence_num":4,"severity_override":{"applied":true,"band":"significant","from_band":"minor","reason":"The review reports a material omission: January 2026 member fund-loss allegations and an OJK summons are absent from the page, and the Regulatory Status section says no enforcement action has been identified. The claim percentage (about 29%) implies the minor band, so the page is judged by the significant band instead."},"submission_content_hash":null,"submission_id":null,"submission_kind":null,"submission_valence":null,"v":1}

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