GDAC Crypto Exchange - Volume, Market Prices & Listings, Trading Pairs | Nomics
YTD

Quote Currency:

USD
Transparency Rating
Total Volume
$997.42M
Volume Change
Markets
Fiat Currencies1

What is GDAC? A GDAC Review from Nomics

Transparency Rating
Total Volume
$997.42M
Volume Change
Markets
Fiat Currencies1

GDAC is one of those exchanges that make it very hard for investors even to get a basic idea of the business and the people running it. Based in South Korea, it shares plenty of similarities with other shady and non-regulated Asian exchanges, such as poorly designed website, missing “About Us” section, no information about the date of establishment, lack of details about the team behind the project and so on.

However, there are two places within the website, where the name of a particular company is mentioned. In the “Terms of Use” page, the operators of the exchange are referred to as “Actto Technologies”, while in the website footer, we can spot the name of “Actwo Technologies”. In-depth research of the background of both companies (considering there is a typo in one of the instances), does not return any useful results. There is, in fact, a company called Actwo Technologies, which specializes in “Advanced Water Treatment, Toxic Wastewater Removal and Neutralization of Landfill Leachate and Waste Water Purification.” The mentioned company is based in Florida, USA, which, as it seems, has nothing to do with GDAC’s services.

Aside from that, the copyrights on some pages date to 2018, while on others they date to 2019. There are some contact details in the homepage’s footer though that state the following address - 13F, Gangnam 8258, Gangnam-daero, 376, Yeoksam-dong, Gangnam-gu, Seoul, Korea. According to the information there, the company representative is Seung-hwan Han, and the business registration number is 549-88-00819. However, at the time of this writing, there is no information for such a person in general searches or on LinkedIn. The only reference to the mentioned individual is an interview on a few third-party websites, where he gives interviews, but that is all. There are no results when searching for the provided corporate number in South Korea’s “Repository of Korea’s Corporate Filings” or third-party corporate registries. Further research about the company does actually lead us to the website of “Peer”, a blockchain development company. However, the information there is also very limited. There is a reference from a lady, referred to as “Irene”, who is stated to work at GDAC as an “SHD Operator” in which she praises the “professionalism” of Peer.

What is more concerning is that GDAC does not even have a LinkedIn page, which is something that even the shadiest cryptocurrency exchange businesses have. This means that, at the time of this writing, there is basically no way of understanding who runs the company and when was it founded. The only reference to the potential date of the establishment can be found in GDAC’s Twitter profile. If the information there is to be believed, the exchange was found in August 2018.

GDAC’s “Terms of Use” page is written in very bad English and, despite being very detailed, does not provide any valuable information that may help understand more about the company. However, it states that “Disputes between the Company and the Member shall be governed by the laws of the Republic of Korea” and that all related lawsuits shall be “jurisdiction over the Seoul Central District Court.” Similar to other shady cryptocurrency exchange businesses, GDAC had also focused specifically on the creation of a long list of unfortunate events or associated risks for which it should not bear any responsibility.

The informational part of the GDAC website has plenty of articles, most of which tackle common questions, such as account set-up and verification, trading process, account management, withdraw information, etc. Most of the information there is pretty common for other exchanges as well. What is concerning here is the fact that GDAC collects lots of personal data, such as names, addresses, phone numbers, a passport, etc. Although it states that all this is required for security reasons, it is worth noting that an exchange that does not consider it important to reveal details about its business or owners, may not be the best choice to be granted access to all your personal information.

It seems like the name GDAC Exchange was not chosen by accident. The platform tries to capitalize on the popularity of GDAX (the former Coinbase Pro). To do that, it also has its own token, called GDAC Token (GT). According to information in its whitepaper, “trading is one of the best ways to mine GT.” The authors also claim that “GT gives users a chance to earn high level of economic incentives and opportunities for differentiated investment alternatives.”

There is multiple user-conducted analysis on the internet, describing in detail GDAC’s fake trade volume and inconsistencies between price and volume performance. Aside from those, there is not much to say regarding the exchange’s reputation as Bitcointalk and Reddit lack any user threads related to GDAC’s service. However, at the time of this writing, it is safe to say that, although the exchange owners’ claim that “GDAC aims to create an innovatively efficient and transparent solution for the clients in the financial sector using the blockchain technology”, they undeniably fail at doing so.

At the time of this writing, there is no information about GDAC having a history of official investigations, hacker attacks, or major security breaches.

Read More
text ad Get cash in 45+ currencies using crypto as collateral without selling it. Secured by crypto custodian insurance.Explore Nexo >>

GDAC Market Highlights

GDAC is a cryptoasset exchange located in South Korea. Their volume since the beginning of the year is $997.42M. The exchange is rated “D” which means “Poor.” They allow trading with the following fiat currencies: KRW.