South Korea-based cryptocurrency exchange GDAC was reportedly hacked and stolen $13 million worth of crypto assets in the hot wallet.
In the statement, it was stated that the altcoins stolen from the hot wallet were as follows:
- 10 million Wemix tokens ($10.7 million)
- 60.8 Bitcoin ($1.7 million)
- 350 Ethereum ($647,000)
- 220 thousand USDT
The stolen assets represent 23% of the exchange's total client assets.
After the attack, GDAC suspended withdrawals and deposits. It is stated that the exchange is working with the Korean Internet and Security agency and law enforcement to catch the attackers.
No explanation was given about the security vulnerabilities that could cause the event.
In the statement made by the exchange, no information was given about when the deposit and withdrawal processes will start.
Whether the exchange will be able to pay its customer assets after the attack or whether it has insurance in this regard remained a big question mark among the unknowns.
Experts state that such risks exist for almost every exchange, but it is healthier to prefer large exchanges to minimize these risks and to capture funds after the attack or to compensate for losses.