18 billion won of crypto hacked from Korea's GDAC exchange

About 18 billion won ($13.6 million) of cryptocurrency was hacked from the GDAC exchange at about 7 a.m. Sunday. The crypto was sent to an unknown wallet, GDAC explained. The hacked assets include 60.8 Bitcoins

Screen capture of GDAC website [SCREEN CAPTURE]

About 18 billion won ($13.6 million) of cryptocurrency was hacked from the GDAC exchange at about 7 a.m. Sunday.

The crypto was sent to an unknown wallet, GDAC explained.

GDAC revealed the news 34 hours after it was hacked.

The hacked assets include 60.8 Bitcoins, 350.50 Ethereum, 10 million Wemix and 220,000 Tether, which was worth around 20 billion won, based on trading at 7 a.m. Sunday.

“Some of the assets are presumed to have been sent to the foreign exchange market, so we are attempting to withdraw the hacked assets and block hacker’s money laundering by cooperating with domestic and foreign exchange markets and issuers.”

GDAC halted and blocked servers for the wallet deposit and withdrawal system, and requested a police investigation.

GDAC also notified and requested support from Korea Internet and Security Agency and the Financial Intelligence Unit (FIU).

The exchange said it is cooperating with other organizations to freeze assets and offered a “sincere apology” to GDAC members.

GDAC is the 187th largest exchange in the world, according to CoinMarketCap. Bithumb ranks No. 17 and Upbit ranks No. 20.

BY LEE JAE-LIM [lee.jaelim@joongang.co.kr]