Upbit Indonesia warns of rising cybercrime and OTP misuse

Cybercrime losses in Indonesia have reached Rp 9.5 trillion as of April 2026, according to data from the Indonesia Anti-Scam Centre (IASC) and Satgas PASTI, as reported by the Ministry of Communication and Digital Affairs. Common threats identified include phishing, one-time password (OTP) misuse, spam, and the use of fake identities for illegal activities.

In response to these rising threats, Upbit Indonesia is emphasizing the importance of account security within the digital asset ecosystem. Andi Novi Wulandari, Chief Compliance Officer of Upbit Indonesia, warned that users must protect sensitive information such as passwords, OTP codes, and personal data. She stated that users should never sell, lend, or share access to their digital asset accounts, as doing so can lead to financial loss and the misuse of the user's identity in unauthorized activities.