CFX Affirms Crypto Asset Industry Security Commitment In Indonesia

Photo: Doc. CFX

JAKARTA - CFX, the only regulated crypto exchange in Indonesia, has responded to cybersecurity issues that are becoming a concern in the Indonesian crypto asset ecosystem. This incident involving one of the traders of local crypto assets has sparked concerns among users and the public regarding the security of crypto platforms in the country.

The President Director of CFX, Subani, emphasized the importance of implementing strict security standards throughout the industry to protect customers and maintain the integrity of the crypto asset ecosystem.

"This incident reminds us all that vigilance in managing cybersecurity risks is very important," he said, Thursday, September 19.

CFX is committed to continuing to tighten security standards through the process of accreditation and monitoring of every platform that is a member of CFX, in order to strengthen the protection of customers and maintain confidence in the crypto asset ecosystem in Indonesia.

Furthermore, Subani said that Indodax has not been registered as a member of the CFX exchange because it has not met the requirements.

"Security is a top priority in this industry. We will also improve and tighten the requirements and membership process of the stock exchange, while coordinating with SRO regarding customer asset storage," he explained.

CFX is also committed to continuing to monitor the ongoing investigation process related to this incident, and is ready to assist Indodax in order to meet the security standards set by CoFTRA, with the hope that Indodax will succeed in joining as an official CFX member.

Subani also added that through close cooperation between industry players, regulators, and other crypto platforms, her party believes it can strengthen the security system and reduce risks in the future.

"CFX will continue to play an active role in this effort, supporting all initiatives aimed at improving security standards in the industry," he concluded.

Subani hopes that the cooperation between industry players can create a more secure and reliable crypto ecosystem in Indonesia. This step is expected not only to increase public confidence in crypto assets, but also to encourage sustainable growth in this sector.

Through collaboration and innovation, CFX is committed to creating an environment that supports regulatory compliance, transaction security, and consumer protection, thereby advancing the national crypto industry to a more stable and positive direction.