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{"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}