INDODAX Explains the Issue of Losing User Funds

INDODAX CEO, William Sutanto. (Photo: INDODAX Doc)

JAKARTA - In recent days, information has circulated on social media and a number of digital media related to the alleged loss of funds experienced by one party and associated with the INDODAX application. Responding to the information circulating, INDODAX delivered an official explanation.

INDODAX understands that the issue of account security is a sensitive matter and is a major concern for users of the cryptocurrency asset investment platform. In response to this, INDODAX CEO William Sutanto apologized to the public.

"We apologize for the concerns that have arisen in the public sphere as a result of the circulation of this information. We understand the public's concerns, and we are committed to following up on each report responsibly and transparently," William said, Monday, December 29.

Based on the investigation of member accounts whose information is circulating in the media, INDODAX found indications of illegal access to user accounts. The access is not from the INDODAX system, but occurs due to external factors, such as phishing, malware, or social engineering methods that target user devices and personal credentials.

In line with this, William also emphasized that the security aspect of the account continues to be the company's focus.

"User security is always our priority. From the results of the initial search, the indications that appear lead to illegal access from external factors. However, we remain committed to assisting affected members and following up on each case thoroughly," he explained.

As part of its commitment to user protection, INDODAX will contact the members concerned one by one to conduct further investigations according to the chronology of each case. INDODAX also opens a communication space for other members who want to discuss the condition of their accounts in more detail.

In addition, INDODAX consistently educates users to maintain account security, including by activating Two-Factor Authentication (2FA), not sharing sensitive data, using strong and unbreakable passwords, increasing vigilance against suspicious links, and ensuring that the device used is free of malware.

In the future, INDODAX will continue to strengthen security education for users and ensure that every report is followed up thoroughly as part of the company's commitment to maintaining the trust and comfort of all members.