South Korean Crypto Exchange Loses $13M in Hack Attack
Hackers stole around $13 million worth of Bitcoin, Ethereum, and other cryptocurrencies from South Korean exchange GDAC by targeting its hot wallet. The stolen assets represent roughly 23% of GDAC’s total holdings. The exchange has suspended its wallet system and related servers and is collaborating with domestic and foreign crypto exchanges and issuers to prevent the stolen coins from being laundered and to recover them. Cryptocurrency theft surged last year, with a staggering $3.8 billion worth of assets stolen, according to blockchain analytics company Chainalysis.