The hacking of the South Korean cryptocurrency exchange GDAC for approximately $13 million occurred on Sunday, the company stated on Monday. After breaking into the South Korean cryptocurrency exchange GDAC, cybercriminals made off with around $13 million worth of cryptocurrencies with a range of different assets.
The hackers targeted the exchange’s hot wallet during the attack that took place on April 9. From the hot wallet of GDAC, hackers moved over $13 million worth of cryptocurrency, or 23% of the company’s entire custodial assets, to another wallet that was not identified.
Since then, GDAC has said that it has halted both its withdrawal and deposit services, and that it has informed both the Korea Internet and Security Agency and the Financial Intelligence Unit about the event. Additionally, the exchange recommended that all other cryptocurrency exchanges obstruct incoming transactions from addresses that seemed to be suspicious.
According to a statement released by the firm on Monday, the stolen assets account for around 23 percent of GDAC’s overall holdings. Specifically, the stolen assets include 60.8 Bitcoin (BTC), 350.5 Ethereum (ETH), 10 million WEMIX tokens, and 220,000 in the dollar-pegged stablecoin USDT.
Additionally, GDAC has advised other exchanges to immediately cease depositing cash at the location where the public announcement of the excessive withdrawal was made, and to submit as a “incident report” any deposit that they do receive. Customers who have questions or concerns about the withdrawal transaction can also consider informing GDAC of their situation.
