Indonesian crypto exchange Indodax resumes operations
Indodax has begun restoring services following a temporary suspension triggered by the detection of irregular activity on its platform.
Indonesian cryptocurrency exchange Indodax initiated a phased restoration of its services on October 31, following a two-day suspension of deposits and withdrawals. The company took the platform offline on October 29 after internal monitoring flagged unusual activity.
According to the company, comprehensive security reviews conducted during the shutdown found no evidence of asset loss, unauthorized fund transfers, or breaches of user data across its trading systems and digital wallets. As part of its recovery protocol, the exchange has mandated that users reinforce their account security by enabling two-factor authentication.
The disruption coincides with a significant shift in the Indonesian regulatory landscape, as oversight for crypto-asset platforms transitions from the Commodity Futures Trading Regulatory Agency (Bappebti) to the Financial Services Authority (OJK). This transition remains a focal point for the industry as firms work to meet new compliance and security standards.