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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
1 entities- + 1 more
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
- hash: DoDxvQLgU5NawAEfi2inoT4ciDSBkrfVs3ibzViKK98K
This investigation is cryptographically anchored to the Solana blockchain (1 event). 15 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: 8/30/2026, 5:14:06 AM
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