GDAC
Last changed 2026-10-10 · Score recalculated — Rescored under Scoring v2, the published formula (avoid.net/scoring): 10 → 50. Problems weighed by who is responsible: concerns that are not fraud −9.6, incidents the subject suffered −3.2, problems around the subject, caused by others −0.8; legitimacy credit long-running +10, regulated +5; no longer operating, so capped at 50. Version history →
Why this score
| Every page starts at | 65 |
| Concerns that are not fraud | -9.6 |
| Incidents it suffered (e.g. hacks) | -3.2 |
| Problems around it, caused by others | -0.8 |
| Long-running | +10 |
| Regulated | +5 |
| Sum | 66 |
- No longer operating, so capped at 50.
Score: 50/100 (kept between 0 and 100)
How scoring works →Summary
GDAC was a South Korean cryptocurrency exchange operated by Peertec Co., Ltd. that launched in May 2018 and was registered as a Virtual Asset Service Provider (VASP) with Korea's Financial Intelligence Unit (KoFIU). On April 9, 2023, attackers drained approximately $13–14 million from its hot wallets — representing 23% of total custodial assets — causing the exchange to permanently shut down with no compensation offered to affected users.
Connected Entities
4 entities · 60 linked investigations- Coinbase→mentioned with→Bitcoin(65%)
- GDAC→mentioned with→Coinbase(60%)
- GDAC→mentioned with→Binance(60%)
- GDAC→mentioned with→Bitcoin(60%)
Timeline(7 events)
December 2017
Peertec Co., Ltd. incorporated in Seoul, South Korea.
May 2018
GDAC cryptocurrency exchange launches.
September 2018
GDAC opens Korean Won (KRW) fiat trading market.
9 April 2023
Attackers drain approximately $13–14.2M from GDAC hot wallets at 7:00 a.m. KST, stealing ~60.8 BTC, 350.5 ETH, 10M WEMIX, and 220,000 USDT — 23% of total custodial assets.
10 April 2023
GDAC CEO Seunghwan Han publicly confirms the breach. Exchange suspends all deposits and withdrawals. KISA, KoFIU, and Korean National Police Agency are notified.
April 2023
GDAC permanently ceases operations. No compensation plan announced for affected users.
February 2025
KoFIU confirms GDAC has been removed from the South Korean VASP registry, alongside ProBit and Huobi Korea.
Decision Log
- slot 455358806 · hash 4K4crqeHaHzExZdy579RUhhJFuC8iGEuKdj2ksEyS2Mn
- slot 421041180 · hash ZimCUprNozk6X9GWr38RgqXMUdiJMBEhgoqQTVtsWPB
This investigation is cryptographically anchored to the Solana blockchain (2 decisions). 12 of 13 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 5/4/2026, 2:54:42 AM
last updated: 10/10/2026, 6:40:24 PM
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