Indodax Responds to Allegations of User Fund Loss, Cites External Factors
Executive Summary
Key insights and market outlook
Indodax, a cryptocurrency exchange, has addressed allegations of user fund loss, stating that the issue was not caused by their system but by external factors such as phishing, malware, or social engineering 1
Deep Dive Analysis
Indodax Addresses User Fund Loss Allegations
Response to Security Concerns
Indodax, a prominent cryptocurrency exchange in Indonesia, has responded to allegations of user fund loss by clarifying that the issue was not due to any fault in their system. CEO William Sutanto explained that external factors such as phishing, malware, or social engineering were likely responsible for the alleged loss 1
Commitment to User Security
Sutanto emphasized that user security is the company's top priority. Indodax has committed to supporting affected users and conducting thorough investigations into each case 2
Preventive Measures
Indodax is also taking proactive steps to enhance user security. The company is educating users about the importance of enabling Two-Factor Authentication (2FA), using strong passwords, and keeping their devices free from malware 2
Public Apology and Transparency
The CEO apologized for the concern caused by the circulating information and assured the public that Indodax is committed to handling the situation responsibly and transparently 1
Source References
Story Info
Topics Covered
Key Events
User Fund Loss Allegation
Exchange Security Response
Investigation Commitment