HDAC, a Korean IoT platform and issuer of the Hyundai DAC have had their mining pool hacked last May 24th. The hack forced the company to temporarily stop withdrawals, according to a report from TokenPost dated May 24th.
HDAC’s ICO was launched in 2017 by a conglomerate that included firms Hyundai BS&C and HyundaiPay.
According to TokenPost’s report, the hackers breached HDAC’s mining pool server, gaining access to the pool’s internal System. HyundaiPay had this to say about the attack:
“The HyundaiPay team does not intervene in the operations of the [DAC token] mining pool. HyundaiPay’s servers and the HDAC blockchain itself are not impacted by the breach… not all of the [299 mining pool] participants have been affected. While HyundaiPay cannot provide exact details in regards to the reach of the hack, the team estimates that the vast majority of miners have been affected.”
While HyundaiPay states it is not involved in the DAC mining pool, it is one of the official developers of the HDCA platform, aimed at using Blockchain-based IoT tech to improve security for smart homes, among other related applications.
The HDAC team envisions the Hyundai-DAC token “could be used to pay for a car rental, toll roads, car parking fees, and gas.” The firm explained that the platform’s ties to the renowned manufacturer Hyundai Motors is helping initial growth, as well as influencing the direction of the project.