South Korean crypto exchange GDAC lost $14M worth of crypto assets in a hack
South Korean cryptocurrency exchange GDAC was hit with a cyberattack over the weekend, which resulted in the theft of nearly $14 million in various cryptocurrencies - approximately 23% of GDAC’s total assets, including Bitcoin, Ethereum, USDT and WEMIX tokens.
GDAC CEO Han Seunghwan said in a statement that the incident took place on April 9, 2023. The attackers exploited GDAC’s hot wallet and transferred over 60 BTC, 350.5 ETH, 10,000,000 WEMIX, and 220,000 USDT to an unidentified wallet.
Following the incident, the company took emergency measures and blocked deposit and withdrawal system and all related servers. GDAC has also reported the problem to law enforcement agencies and requested an investigation.
In related news, Terraport Finance, a decentralized finance (DeFi) platform on the Terra Classic network, has lost over $2 million worth of digital assets through an exploit on its liquidity wallet. According to news media reports, nearly 9.5 million TERRA, 15 billion LUNC, and 5.5 million USTC have been withdrawn by hackers.
The company has acknowledged the breach and said it is investigating the incident.
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