Police Warn Unilateral Liquidation of Digital Assets, Including Crypto, May Lead to Criminal Charges
The Director of Special Economic Crimes at the Indonesian National Police Criminal Investigation Agency (Bareskrim Polri), Brigadier General Ade Safri Simanjuntak, has emphasised that disputes within digital finance platforms that result in unilateral actions against customer assets can enter the realm of criminal law. While initial relationships are governed by civil law, this does not preclude potential legal violations if unlawful elements are discovered.
Ade explained that disputes or defaults on digital platforms essentially stem from the civil agreements between the parties involved. “If disputes arise regarding the execution of rights and obligations that remain within the scope of the agreement, the resolution can fundamentally be pursued through civil law mechanisms,” Ade stated on Monday (29/06/2026).
However, Ade highlighted that the civil corridor does not automatically close the door to criminal law enforcement. Investigators may intervene if platform managers are indicated to have engaged in manipulation or the unilateral seizure of digital assets without the permission of the legitimate owners.
“As long as investigations find acts of controlling, transferring, using, or converting customers’ assets unlawfully without right, accompanied by the intent to benefit oneself or others and causing loss to the asset owners, such acts have the potential to meet the elements of a criminal offence,” said Ade.
This statement provides much-needed legal certainty for consumer protection in the digital commodity sector. Recently, the public has highlighted frequent disputes involving digital asset exchanges that perform unilateral freezing or liquidation of coins following cyber incidents, citing standard clauses within their applications as justification.
Under the latest legal regulations, the unlawful transfer of assets by platform managers could potentially be prosecuted under embezzlement charges, as stipulated in Article 488 of Law Number 1 of 2023 (the New Criminal Code).
Ade added that his division will continue to prioritise the principle of caution and the fulfilment of valid evidence before escalating digital disputes to the enforcement stage. “Therefore, the conclusion regarding the existence or non-existence of a criminal offence will depend heavily on the legal facts and evidence obtained during the investigation and inquiry processes,” he concluded.
It is noted that a hack occurred on the Indodax system on 11 September 2024, resulting in the loss of several crypto assets, including approximately 68 million Botxcoin tokens. The event was detected by the Web3 security firm Cyvers Alerts, which reported suspicious transactions from Indodax wallets across several blockchain networks.
Cyvers Alerts recorded over 150 transactions with total estimated losses reaching US$ 18.2 million, or approximately Rp 280.3 billion. However, Indodax CEO Oscar Darmawan maintained that no member balances were affected by the cyberattack.
“Crypto and Rupiah balances in Indodax accounts remain 100 per cent safe. We have taken strict security measures to ensure that no member funds were affected,” said Oscar.
Despite Indodax’s assurances, several Botxcoin owners claimed to have suffered losses when trading resumed. Some traders reported that the number of Botx tokens in their accounts had decreased, while others were unable to trade the tokens due to a suspended status.
The issue escalated when, on 20 November 2025, Indodax converted BotX balances to Rupiah at an internal price of approximately Rp 342 per token. This conversion was conducted without the consent of account holders, triggering consumer complaints to the Financial Services Authority (OJK).