Hackers have stolen approximately 23% of digital assets stored in GDAC’s hot wallet, the South Korea-based cryptocurrency exchange said on Monday. Seunghwan Han, GDAC’s Chief Executive Officer, confirmed the attack in a statement published on the firm’s website on Monday.

Hackers Steal $14M in Crypto

In the statement, Han disclosed that the stolen custodial assets include 60.8 Bitcoin, 350.5 ETH, 10 million WEMIX tokens and 220,000 USDT. Based on the April 10, 2023, prices of the respective digital assets on CoinMarketCap, the amount of stolen digital assets were $1.7 million, $652.8 million, $11.8 million and $220,000 million, respectively. This gives total of $14.2 million.

According to Han, the hack occurred around 7am on Sunday (yesterday) and the stolen cryptocurrencies were transferred to an unidentified wallet. As a result of the incident, the CEO said the exchange has “suspended and blocked” access to deposit and withdrawal on its wallet system and servers.

The exchange also said it has asked for cyber investigation by the police into the incident. The firm also reported the event to the Korea Internet and Security Agency (KISA), it said in the statement. Furthermore, the cryptocurrency exchange said it has notified the Korea Financial Intelligence Unit (FIU) of the hack. FIU is the Korean government agency responsible for coordinating the country’s anti-money laundering and combating the financing of terrorism regime.

Still on efforts by GDAC, Han noted that the firm is seeking cooperation from asset issuers, exchanges and decentralized finance managers to freeze assets or deposit from the address where the withdrawal occurred.

“Currently, we are doing our best by collaborating with various organizations. We ask for your understanding [and] that it is difficult to confirm the resumption point of deposit and withdrawal as the investigation is currently underway,” Han explained in Korean (as translated by Google).