Actor Linked to North Korea Suspected of Hacking Cryptocurrency Exchange, Indodax
“Initial findings from our ongoing investigation with a specialized crypto security firm point to the involvement of a group linked to the DPRK (Democratic People’s Republic of Korea),” noted Oscar Darmawan, the CEO of Indodax, in an official press release issued Saturday.
According to Darmawan, the Indodax technical security team detected indications of illicit intrusion and security oversights that may have resulted in substantial financial damages, potentially exceeding hundreds of billion rupiahs.
He alerted that North Korean cybercriminals are increasingly targeting worldwide cryptocurrency exchanges, with a particular focus on well-established platforms that possess sizable asset holdings.
In response to this cybersecurity breach, Indodax is actively collaborating with the National Police’s Criminal Investigation Agency (Bareskrim), alongside engagement with the Financial Services Authority (OJK) and the Commodity Futures Trading Regulatory Agency (Bappebti), Darmawan added.
“We are dealing with a critical international challenge. To tackle this effectively, we are in consultation with the cyber division of Bareskrim,” the CEO of Indodax explained.
Despite the hacking incident, Darmawan assured that the digital currency assets held within the system remain secure. Nonetheless, clients may experience delays in system restoration, subsequently affecting the availability of their assets.
He highlighted that Indodax currently administers crypto assets valued at Rp11.5 trillion (equivalent to USD1 at approximately Rp15,411), which is over 100 percent of all user-held assets on the platform.
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Translation by: Pamela Sakina, Nabil Ihsan
Editing by: Rahmad Nasution
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