Crypto Hacker Returns 20,000 Ether To Coindash

Announcements, Crime, ICO News, News | February 27, 2018 By:

CoinDash has announced that a hacker who stole more than 43,000 ether tokens from the firm’s initial coin offering (ICO) last year has returned a majority of the funds to the company.

The hack occurred in July 2017, just minutes after CoinDash launched its ICO, which was designed to raise ethereum funds for its social trading platform. The hacker altered the deposit address posted on the CoinDash’s website to the one they owned during the ICO, leading to the theft of more than 43,000 ether tokens. At the time, the stolen ether tokens were worth roughly $10.3 million.

CoinDash said the hacker returned 30,000 ether tokens over two different transactions, the first in September 2017 and the second last Friday, to CoinDash’s wallet. At press time, the tokens were worth a little more than $26 million. The hacker still has 13,400 ETH tokens (worth $11.6M) after the second transaction.

CoinDash stated that the Israeli Counter Cyber Terrorist Unit has been notified of the return, with the hacker’s ethereum addresses continuing to be tracked and monitored for any suspicious activity.

Despite the theft of its funds last year, CoinDash intends to launch its cryptocurrency social-trading platform on February 27, according to its website. The platform provides tools and services that make interacting, handling and trading accessible. It allows users to follow traders and mirror their ICO investments. The company said it will be integrated with several crypto exchanges, including Poloniex, Bittrex and Binance.

“Similar to the hack itself, the hacker’s actions will not prevent us from the realizing our vision, CoinDash product launch will take place this week as originally intended,” said CoinDash CEO Alon Muroch.