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🇮🇩 Indonesia /Crime & Justice

Bulgarian Mastermind of $144 Billion Bank Hack Remains Unidentified by Jambi Police

From Tempo · () Indonesian

Translated from Indonesian, summarized and contextualized by DistantNews.

At a glance

News Named sources Under investigation
  • Police have not yet identified a Bulgarian national suspected of masterminding a $144 billion Bank Jambi account hacking.
  • The suspect, known by the alias 'Alcaz,' allegedly coordinated the scheme, which involved facilitators setting up numerous accounts to launder funds.
  • Authorities have frozen $18.94 billion in assets and are actively pursuing the main suspect, who is believed to have fled abroad.

Jambi Regional Police are facing challenges in identifying a Bulgarian national believed to be the mastermind behind the massive hacking of Bank Jambi accounts, which resulted in the loss of approximately $144 billion. Investigators have only managed to obtain the suspect's alias, 'Alcaz,' hindering efforts to issue an Interpol red notice.

According to police, the suspect, Alcaz, traveled to Jakarta once to meet with one of the Indonesian suspects, identified as DD. In total, three Indonesian suspects, DD, TAS, and AA, have been arrested. They allegedly acted as facilitators, preparing dozens of accounts and cryptocurrency wallets to disguise the illicit funds.

From the arrested suspects, we only got information about a nickname.

— Kombes. Pol. Taufik NurmandiaExplaining the difficulty in identifying the main suspect.

The syndicate reportedly began its operations in 2025. The arrested facilitators were responsible for recruiting numerous individuals to open domestic bank accounts and accounts on various cryptocurrency platforms. These accounts were then handed over to the main perpetrator.

The hacking occurred on February 22, 2026, draining funds from 6,609 Bank Jambi customers. The stolen money was quickly converted into cryptocurrency and transferred to overseas digital wallets within hours. Through digital forensics and collaboration with crypto service providers, Jambi Police have managed to freeze assets worth $18.94 billion, believed to be proceeds from the crime. The search for the main Bulgarian suspect continues, as they are thought to have escaped the country.

The funds worth Rp 144.82 billion were immediately converted into crypto assets and transferred to wallets abroad within hours.

— TaufikDescribing the speed and method of the fund transfer after the hacking.
DistantNews Editorial

Originally published by Tempo in Indonesian. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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