• April 20, 2024

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Hackers Withdraw $13M from Korean Crypto Exchange Gdac

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The administration of trading platform Gdac has recently confirmed that hackers managed to steal around $13 million worth of cryptocurrencies from the exchange’s hot wallet.

The stolen funds included 60.8 Bitcoins, 350 Ether, 220,000 USDT and 10 million WEMIX tokens. As a result, the attackers were able to withdraw approximately 23% of Gdac’s reserves.

In order to protect users’ assets, Gdac has already announced that the exchange will suspend deposits and withdrawals of digital currencies.

The platform has also started to cooperate with law enforcement agencies and blockchain companies that track the movement of funds.

There is currently no timeline for when normal operations will resume. This is not the first time that South Korean cryptocurrency exchanges have been victims of hackers. A report by Chainalysis last winter said North Korean hackers posed the greatest threat and in 2022, as they stole $1.7 billion in cryptocurrencies.