CoinDash ICO Hacked and Halted

FinTech, ICO News, Investing, News | July 18, 2017 By:

The initial coin offering (ICO) for CoinDash has been terminated because of a hack on the address used to transmit funds.

CoinDash is a cryptocurrency-based social-trading platform, providing tools and services that make interacting, handling and trading accessible. It allows users to follow traders and mirror their initial coin offering investments.

The company ICO started yesterday and claimed to have raised $7.53 million USD before the ethereum address it was using was altered to another address by a hacker. That resulted in ETH being routed to another source.

CoinDash’s web site has been shut down, and investors are being asked to submit information on their transactions to collect the CoinDash token they should have received.  “Contributors that sent ETH to the fraudulent Ethereum address, which was maliciously placed on our website, and sent ETH to the official address will receive their CDT tokens accordingly,” said the company statement. A company spokesperson said there was no additional statement available “at this time,” and referred to the website.

The company urged investors not to send ETH to any address, and warned that anything sent after the shutdown will not be compensation.