Rising OTP Misuse: Upbit Shares Secure Steps to Protect Digital Asset Accounts

According to data from the Indonesia Anti-Scam Centre (IASC) and the PASTI Task Force, as cited by the Ministry of Communication and Digital (Komdigi), total losses from reported cybercrime reached Rp 9.5 trillion up to April 2026. This figure serves as a reminder that the convenience of online activities must be balanced with higher awareness regarding account security and personal data protection.

Komdigi also noted that Indonesia’s digital space continues to face various threats, ranging from phishing and the misuse of one-time passwords (OTP) to spam and the use of fake identities for illegal activities. The scale of these losses indicates that the security of financial accounts is not only an issue for banking services but is also relevant to the entire digital financial ecosystem, including crypto assets. Accounts on digital asset platforms are personal accounts that must be protected and should not be sold, lent, shared, or granted access to third parties.

Andi Novi Wulandari, Chief Compliance Officer (CCO) of Upbit Indonesia, stated that the increased adoption of digital assets must go hand-in-hand with public understanding of account security and digital identity protection. “As the use of digital assets expands, it must be accompanied by the awareness that account security is a vital part of participating in the crypto ecosystem. Information such as passwords, OTP codes, and personal data are details that must be guarded and never provided to others,” said Novi.

According to Novi, handing over account access to others can cause owners to lose control over the activities occurring within that account. In addition to the risk of financial loss, account misuse can also lead to the user’s identity being involved in activities they are unaware of. “Therefore, users should never sell, lend, or provide access to digital asset accounts to anyone. Account protection depends not only on the platform’s security systems but also on how users maintain their credentials and use their accounts responsibly,” Novi continued.

Passwords, OTPs, and Phishing as Critical Security Points

One of the most fundamental steps in maintaining account security is ensuring all authentication information remains private. Komdigi has repeatedly warned that OTP codes must never be shared with anyone, as this information can be exploited to hijack accounts. Upbit Indonesia encourages users to implement several basic security habits, such as using strong and unique passwords for every account, maintaining the confidentiality of OTPs, activating two-factor authentication (2FA), and ensuring that all access is conducted through official applications, websites, and communication channels.

Users also need to be more critical of messages requesting sensitive information, suspicious links, or offers promising unnatural profits. “In digital security, technology is one layer of protection, but user vigilance plays a very significant role. Make it a habit to double-check information sources, do not rush to click links, and never share account access or authentication codes with others,” said Novi.

Security as Part of Digital Asset Literacy

For Upbit Indonesia, digital asset literacy is not just about understanding market movements or investment potential. Knowledge regarding account security, personal data protection, fraud risks, and how to use platforms responsibly is also a vital part of user education. As the digital asset industry grows in Indonesia, the public needs to increasingly understand that every decision in the digital space carries the responsibility to protect their own identity and assets.

“A healthy digital asset ecosystem requires users who not only understand the products but also understand how to protect themselves. Therefore, education regarding security and the responsible use of digital assets will continue to be part of Upbit Indonesia’s commitment,” said Novi.