Indodax, Indonesia's largest digital asset exchange, temporarily suspended deposits and withdrawals of both rupiah and digital assets on October 29, 2026. The pause took effect at approximately 12:24 WIB (Western Indonesia Time) as a precautionary security measure in response to a significant increase in cyberattack attempts.
CEO William Sutanto confirmed the suspension and stated that the exchange's team is assessing the situation and taking necessary steps before services resume. Indodax has not provided a timeline for restoring deposit and withdrawal functionality.
Scope of the Suspension
The freeze affects both fiat and cryptocurrency transfers, covering the primary channels through which money enters and leaves the platform. Spot trading remained partially accessible during the suspension, and users retained the ability to view their account balances.
According to Indodax, all client assets remain secure. The exchange reported finding no unauthorized withdrawals and no evidence of data breaches.
Historical Context
This suspension marks the second major security-driven disruption at Indodax in approximately two years. In September 2024, the exchange experienced a hot-wallet compromise that resulted in losses of around $22 million. That incident was followed by an extended maintenance period before full service recovery.
A key difference between the incidents is timing: the 2024 breach involved unauthorized fund transfers followed by a service pause, while the 2026 incident involved a preemptive suspension before any asset loss occurred.
Regulatory and Industry Context
The suspension occurs during a period of regulatory realignment for Indodax. The exchange has transitioned to frameworks established by OJK, following regulatory changes involving Bappebti, two of Indonesia's financial authorities.
On October 20, 2026, nine days before the suspension, Indodax joined the Asosiasi Fintech Syariah Indonesia, an Indonesian Islamic fintech association.
As the largest exchange in Indonesia, Indodax's operational decisions carry significance beyond its user base. The exchange has pledged to provide ongoing updates through official channels as the security review progresses.
