South Korean Crypto Exchange Loses $13 Million to Hackers

Published:

  • South Korean GDAC exchange notified of the cyber-attack on Monday.
  • The thieves stole around 61 BTC, 350.5ETH, 10 million WEMIX tokens, and 220,000 USDT.
  • According to blockchain data, the hacker transferred 461 Ethereum to a crypto mixer and exchanged USDT for ETH.

Crypto traders in South Korea have been dealt a nasty blow as the GDAC exchange is hit by a massive hack resulting in the loss of nearly $13 million. The exchange reported the incident on Sunday.

The stolen cryptoassets include 61 bitcoin, 350 ether, 10 million WEMIX tokens and 220,000 USDT, with the theft representing around 23% of the GDAC’s total custodial holdings.

The attack caused the exchange to suspend all deposits and withdrawals, and GDAC has since filed a report with the South Korean police for a cyber-investigation.

Hacker Transfers 461 ETH to Tornado Cash

GDAC has stated that the stolen funds were taken out of its hot wallet, with the hacker routing the coins to an unknown wallet. 

While GDAC is collaborating with the Korean law enforcement and security professionals, the hacker already changed USDT to ETH. 

The blockchain intelligence platform uncovered that the attacker had sent 461 ETH to the cryptocurrency mixing platform Tornado Cash on Monday.

Related articles

Recent articles