GDAC Hacked for $13 Million

Summary

On April 9, 2023, South Korean cryptocurrency exchange GDAC was hacked, resulting in the theft of cryptocurrencies worth approximately $13 million. Hackers gained access to the exchange’s hot wallets and stole various cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and Wemix (WEMIX).

Attackers

The attackers behind the GDAC hack remain unidentified.

GDAC Hacker ETH wallets:

• 0x244615D99684175d31369332039b2D84ce925EC5
• 0x57192cca8b8e4beb77f3466c6d0550e64cc53b0f

Losses

GDAC lost approximately $13 million:

• 10,000,000 WEMIX
• 220,000 USDT
• 350 ETH
• 60.8 BTC

Timeline

• April 08, 2023, 06:36:59 PM +UTC: The exploiter starts to attack
• April 10, 2023: GDAC announced the hack on their platform.

Security Failure Causes

• Wallet System Vulnerability: Flaws in the GDAC hot wallet system have led to unauthorized access and transfers of funds.