GDAC
| Primary URL | Location | Industry | gdac[.]com |
Country
South Korea
|
Financial Services
|
|---|
Profile
GDAC is a cryptocurrency exchange headquartered in South Korea and operates under the alias GDAC. The platform provides trading services for a variety of digital assets, including Bitcoin, Ethereum, WEMIX and USDT. Its primary function is to match buy and sell orders for these tokens and to facilitate deposits and withdrawals of user funds. The exchange’s headquarters and operational base are located in South Korea.
On April 9, 2023, GDAC experienced a security breach in which attackers drained approximately $13 million worth of cryptocurrency from its hot wallet. This loss amounted to roughly twenty‑three percent of the exchange’s total assets at the time. In response, GDAC immediately suspended all deposit and withdrawal services to prevent further outflows. The exchange also notified relevant South Korean authorities and other cryptocurrency exchanges to aid in blocking and tracking the stolen funds.
The incident highlighted GDAC’s reliance on hot wallet storage for active trading balances. By notifying South Korean authorities and other cryptocurrency exchanges, GDAC sought to block and track the stolen assets. These actions illustrate the exchange’s approach to incident response within the digital asset sector.