S. Korean Crypto Exchange Gdac Hacked for Nearly $13M

The exchange said hackers transferred the crypto assets from a hot wallet to an unidentified wallet.

AccessTimeIconApr 10, 2023 at 11:45 a.m. UTC
Updated Apr 10, 2023 at 1:20 p.m. UTC

South Korean crypto exchange Gdac was hacked for nearly $13 million on Sunday, the firm said on Monday.

Hackers transferred nearly $13 million worth of crypto, 23% of its total custodial assets, from Gdac's hot wallet to an unidentified wallet.

The hackers stole nearly 61 bitcoins (BTC), 350.5 ether (ETH), 10 million wemix tokens (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 to 18 months. The largest was Axie Infinity's Ronin bridge, which suffered a $625 million hack last year. On Sunday, decentralized-finance protocol Sushi was exploited for $3.3 million.

Edited by Parikshit Mishra.


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Parikshit Mishra

Parikshit Mishra is CoinDesk's Deputy Managing Editor responsible for breaking news coverage. He does not have any crypto holdings.