Hacker Behind GDAC’s $13 Million Theft Initiates Transfer of Stolen Funds
In Brief
The hacker responsible for the theft of $13 million from GDAC exchange has initiated the process of transferring the stolen assets.
The cybercriminal responsible for the theft of $13m from the South Korean cryptocurrency exchange GDAC has started mobilizing the stolen assets. Monitoring platform MistTrack reported the hacker’s activities, indicating movement from the initial heist location.
The hacker’s initial move was to send approximately 60 Bitcoins to a crypto address that starts with 1AWcB. The hacker moved a portion of the Bitcoins to three distinct addresses, starting with bc1qk, bc1q2, and bc1qd respectively.
In April, a significant theft severely impacted GDAC. The stolen assets represented nearly 23% of its total custody assets. The detailed list of pilfered assets encompasses 61 Bitcoins, 350.5 Ethereums, 10 million WEMIX, and 220,000 USDT.
🚨MistTrack Alert🚨
— MistTrack🕵️ (@MistTrack_io) October 11, 2023
The hacker who stole $13 million from the #GDAC exchange on April 9 this year is moving the funds. Here are the details of the transfers:
1/ Hacker transferred ~60.8 #BTC to address 1AWcB…mPnAe.
2/ Subsequently, 1AWcB…mPnAe transferred ~36.7 #BTC to… pic.twitter.com/d4PYgZ96bM
As of the latest update, the address 1AWcB…mPnAe retains a balance of approximately 24 Bitcoins. The digital currency space is keeping a watchful eye on this illicit activity. Real-time updates from sources like MistTrack offer crucial insights into the movement of stolen assets.
Continued vigilance in monitoring is paramount. For those tracking the transactions, the provided link offers a more granulated breakdown of the hacker’s fund transfers.
Earlier this year, the crypto exchange GDAC found itself at the receiving end of a major security breach. On April 9th, GDAC informed its user base about a significant compromise wherein their GDAC Hot Wallet had been targeted by hackers.
The attackers transferred over 60 BTC, 350.5 ETH, 10,000,000 WEMIX, and 220,000 USDT, resulting in a loss of around $13 million, which is 23% of GDAC’s total assets.
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About The Author
Nik is an accomplished analyst and writer at Metaverse Post, specializing in delivering cutting-edge insights into the fast-paced world of technology, with a particular emphasis on AI/ML, XR, VR, on-chain analytics, and blockchain development. His articles engage and inform a diverse audience, helping them stay ahead of the technological curve. Possessing a Master's degree in Economics and Management, Nik has a solid grasp of the nuances of the business world and its intersection with emergent technologies.
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Nik is an accomplished analyst and writer at Metaverse Post, specializing in delivering cutting-edge insights into the fast-paced world of technology, with a particular emphasis on AI/ML, XR, VR, on-chain analytics, and blockchain development. His articles engage and inform a diverse audience, helping them stay ahead of the technological curve. Possessing a Master's degree in Economics and Management, Nik has a solid grasp of the nuances of the business world and its intersection with emergent technologies.
