GDAC Crypto Exchange Loses $14 Million in Hack


The CEO of GDAC, a South Korean cryptocurrency exchange, declared that the system had been breached, causing the loss of around $14 million in multiple tokens.


The attack has caused GDAC to cease all transactions while they urgently perform server maintenance to fix the breach. The platform reported that the hack resulted in the loss of around 23% of its total funds. Including Bitcoin, Ethereum, USDT and WEMIX tokens.

Specifically, 61 Bitcoin, 351 Ethereum, 10 million WEMIX gaming coins, and 220,000 USDTs were stolen from its hot wallets. GDAC gives trading in a variety of digital currencies, such as Bitcoin, Ethereum and Litecoin, plus other altcoins.

In addition to its exchange services, GDAC also provides other digital asset-related services, such as an OTC trading desk, a payment gateway, and a crypto lending platform.

In the wake of the security breach, GDAC has informed the relevant police and regulatory bodies of the incident. They are also collaborating with other crypto exchanges and issuers both within and outside the country to stop the stolen coins from being laundered and to recover them. As they learn more information about the attack, they will keep their users updated.

Read more: CoinTracking Links to TradingView Widgets | Brokers Times

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