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Friday, March 14, 2025

$13.6 million of crypto hacked from Korea’s GDAC exchange

Screen capture of GDAC website [SCREEN CAPTURE]
Screen capture of GDAC website [SCREEN CAPTURE]

Screen capture of GDAC website [SCREEN CAPTURE]

About $13.6 million (18 billion won) of cryptocurrency was hacked from the GDAC exchange at about 7 a.m.(KST) Sunday.

The crypto was sent to an unknown wallet, GDAC explained.

GDAC revealed the news 34 hours after it was hacked.

The hacked assets include 60.8 Bitcoins, 350.50 Ethereum, 10 million Wemix and 220,000 Tether, which was worth around 20 billion won, based on trading at 7 a.m.(KST) Sunday.

“Some of the assets are presumed to have been sent to the foreign exchange market, so we are attempting to withdraw the hacked assets and block hacker’s money laundering by cooperating with domestic and foreign exchange markets and issuers.”

GDAC halted and blocked servers for the wallet deposit and withdrawal system, and requested a police investigation.

GDAC also notified and requested support from Korea Internet and Security Agency and the Financial Intelligence Unit (FIU).

The exchange said it is cooperating with other organizations to freeze assets and offered a “sincere apology” to GDAC members.

GDAC is the 187th largest exchange in the world, according to CoinMarketCap. Bithumb ranks No. 17 and Upbit ranks No. 20.

BY LEE JAE-LIM [lee.jaelim@joongang.co.kr]

The Korea Daily
The Korea Daily
Founded in 1974, The Korea Daily (미주중앙일보) is the largest Korean media outlet in the U.S., providing in-depth coverage of local, national, and international news with a strong focus on immigration, business, and the Korean-American community. While covering major cities across the U.S., including New York, Washington D.C., Atlanta, Chicago, San Diego, San Francisco, Denver, and Dallas, as well as Vancouver and Toronto, Canada, The Korea Daily primarily focuses on news in Los Angeles County and Orange County. Headquartered in Koreatown, Los Angeles, it serves as a key news source for Korean Americans in Southern California.