Crypto Exchange GDAC Halts Deposits and Withdawals Following $13 Million Hack

Hackers drained nearly $13 million in digital assets from South Korean cryptocurrency exchange GDAC.

This is the latest in a series of setbacks for the industry.

latest victim

stock exchange team more dangerous On April 9, its users exploited the Gdac Hot Wallet hacker and transferred a large amount of cryptocurrency to an anonymous wallet.

They have stolen over 60 BTC, 350.5 ETH, 10,000,000 WEMIX, and 220,000 USDT (which is about 23% of the platform’s total custodial assets). The valuation of the tokens was approximately $13 million.

GDAC took emergency measures shortly after the hack And blocking the wallet network (the deposit and withdrawal system and all related servers). It also reported the problem to law enforcement agencies and requested an investigation.

It then reported it to the FIU and the Korea Internet Security and Security Agency (KISA) and asked DeFi managers and other exchanges to cooperate in resolving the issue.

“We require those responsible for exchanges that handle virtual assets to block deposits immediately from the address where the withdrawal occurred, as stated in the official notice.”

Gdac is currently working alongside several organizations to detect criminals and resume all operations on its platform.

“We ask for your understanding that it is difficult to confirm the point of resumption of deposits and withdrawals as the investigation is currently underway,” it added.

Euler’s financial epic

Decentralized Lending Protocol (DeFi) Euler Finance has become a victim of one of the biggest hacks in the cryptocurrency space recently. perpetrators Looting Nearly $200 million worth of digital assets were stolen through a so-called flash loan attack.

entity progress The offenders would keep $20 million if they returned the remaining money, but the latter were reluctant to accept the agreement and mixed up the assets in Tornado Cash.

The hacker who goes by the name “Jacob” made a change of heart at the end of March and returned over $100 million in ETH to Euler Finance. They even apologized and returned more of the stolen stash in the following days.

The whole ordeal turned for the better this past weekend when the culprit returned all recoverable assets after successful negotiations with the protocol team.