Bulgarian National Allegedly Behind Indonesian Bank Cyber Heist

Bulgarian National Linked to Indonesian Bank Cyber Heist

Bulgarian National Allegedly Behind Indonesian Bank – Law enforcement in Indonesia’s Jambi Province are deepening their inquiry into a Bulgarian citizen suspected of leading a cyber theft at Bank Jambi. The investigation aims to confirm the foreign national’s role in a scheme that reportedly affected thousands of customers.

Coordination with Local Suspects

Authorities claim the suspect traveled to Jakarta to oversee operations involving three domestic accomplices, who have since been detained. The Jambi Police spokesperson, Commissioner Erlan Munaji, stated that officials are collaborating with the Directorate General of Immigration to authenticate the foreign individual’s background.

“We are verifying the individual’s identity, travel history, and whereabouts,” Erlan explained on Friday, July 17, 2026.

Operational Structure and Timeline

The investigation indicates that these local accomplices were directed by the primary offender, a foreign national hailing from Bulgaria. The trio reportedly played a supporting role, establishing multiple bank accounts and crypto wallets to obscure illicit funds. The cyber operation was allegedly planned since 2025, with the suspects tasked to recruit individuals for account creation across various financial platforms.

Once the accounts were set up, the stolen assets were allegedly transferred to the foreign mastermind’s overseas wallet. The breach occurred on February 22, 2026, impacting 6,609 Bank Jambi accounts.

Funds Converted to Cryptocurrency

According to investigators, the illicit funds—amounting to Rp144.82 billion (approximately US$8.9 million)—were swiftly converted into digital assets. Taufik, an officer involved in the case, confirmed the funds were moved to international wallets within hours of the attack.

Assets Frozen in Digital Forensics

Through forensic analysis and partnerships with crypto service providers, the Cyber Subdirectorate of the Special Criminal Investigation Directorate has secured Rp18.94 billion (about US$1.2 million) in assets tied to the crime.

Legal Consequences

The three detained individuals face up to nine years of imprisonment under Indonesia’s ITE Law and Personal Data Protection regulations, alongside penalties of up to Rp5 billion (around US$306,000).

Broader Cyberattack Pattern

The Bank Jambi incident follows a string of financial institution breaches in Indonesia. In March 2025, Bank Jakarta suffered a payment system attack that resulted in over Rp200 billion (approximately US$12.3 million) in suspicious transactions. Six suspects were later identified in that case. A similar event occurred at Bank East Java in 2024.