The South Korean crypto exchange GDAC has suffered a hack in which approximately $13.9 million worth of crypto was stolen. The exchange has suspended all deposits and withdrawals and is performing emergency server maintenance to address the issue. According to an announcement from GDAC’s CEO Han Seunghwan, the attacker gained control of some of the exchange’s hot wallets and moved crypto into wallets under their control. Around 61 Bitcoin, 350.5 Ether, 10 million of the WEMIX gaming currency, and $220,000 worth of Tether was stolen. This is approximately 23% of GDAC’s current total custodial assets.
GDAC has alerted the police, reported the hack to the Korea Internet & Security Agency (KISA), and notified the Financial Intelligence Unit (FIU) of the loss caused by the attack. The exchange is also asking other crypto exchanges not to accept deposits made from the address used by the attacker, and it is uncertain when withdrawals will resume.