S. Korean Crypto Exchange Gdac Hacked for Nearly $13M
TL;DR Gdac, a South Korean crypto exchange, was hacked for nearly $13 million on Sunday. The hackers stole 61 bitcoin, 350.5 ether, 10 million wemix token and 220,000 USDT. Gdac is working with authorities to recover the funds and has notified them about the hack. This incident follows another notable exploit of decentralized finance (DeFi) protocol Sushi, which lost $3.3 million on Sunday.
South Korean crypto exchange Gdac was hacked for nearly $13 million on Sunday, the firm said on Monday.
On April 9, hackers transferred nearly $13 million worth of crypto, 23% of its total custodial assets, from Gdac hot wallet to an unidentified wallet.
The hackers stole nearly 61 bitcoin (BTC), 350.5 ether (ETH), 10 million wemix token (WEMIX) and 220,000 USDT. Gdac said it has notified the authorities about the hack and is working to recover the funds.
Crypto platforms have suffered some notable hacks and exploits in the past 15-18 months, with the largest being Axie Infinity's Ronin bridge, which suffered a $625 million hack last year. On Sunday, decentralized finance (DeFi) protocol Sushi was also exploited for $3.3 million.