OJK Urges Investors to Stay Calm After Binance Hack

The Financial Services Authority (OJK) has urged investors to remain calm in response to the hacking of cryptocurrency assets on Binance, which resulted in losses exceeding 100 trillion rupiah. The Head of the Financial Sector Innovation Technology Supervision Department at OJK, Adi Budiarso, conveyed this message during last week's monthly assessment. He emphasized the importance of transacting through registered and licensed crypto traders under OJK. Adi mentioned that this incident serves as an alarm to strengthen cyber risk mitigation in the domestic crypto ecosystem. OJK has implemented strict regulations in accordance with POJK Number 27 of 2024, which requires traders to keep at least 70% of consumer assets in custodians and 30% independently, with 70% of the independent deposits required to be stored in cold wallets. Additionally, OJK mandates that platforms are responsible for recovering consumer funds in the event of a hack. Cryptocurrency transactions in Indonesia reached 30.56 trillion rupiah with 23.51 million consumers as of September 2026. Adi emphasized that consumer protection is key to the future of the industry.

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