JAKARTA The hacking of crypto exchanges seems to be starting to increase. Recently, the Global Digital Asset Exchange (GDAC) became one of its victims. GDAC is a South Korean crypto exchange that was hacked and lost around US$13 million (equivalent to Rp193 billion) in cryptocurrencies.
With the hack, the GDAC has stopped all deposits and withdrawals and is making emergency repairs to the server. The hack occurred on Sunday, April 9 yesterday. Shortly after the incident, the GDAC posted a report announcing that hackers had stolen around Rp193 billion.
According to the GDAC support page, hackers transferred about 23 percent of GDAC's total custodian assets from exchange hot wallets to unidentified wallets, covering about $13 million in various cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), Wemix (WEMIX), and stablecoin Tether (USDT).
GDAC is currently working with several agencies to recover funds and has notified authorities of the incident. In addition to suspending the relevant wallet and server systems, crypto exchanges have also reported the incident to the Korean Internet Promotion Agency (KISA) and FIU.
This is one of the most recent crypto platform hacks in the last 15-18 months. In 2022, Ronin Bridge Axie Infinity experienced a $625 million hack. Then not long before the GDAC hack, Sushi's decentralized exchange was hacked and had to lose $3.3 million.
GDAC CEO Jindhak Han Seung-hwan stated that investor protection is the stock exchange's top priority, and will continue to work to secure the safe withdrawal of user assets.
GDAC also urged other exchanges to immediately stop depositing funds at addresses where excessive withdrawals are made public, and report any deposits they receive as incident reports. Customers who have concerns about withdrawal transactions are also asked to report them to the GDAC.
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