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Coindash receives 20,000 stolen ETH tokens from hacker

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Coindash Receives 20,000

Febuary 23rd : Coindash revealed thorugh its blog that it had received 20,00 ETH to the companies wallet at 12:01:41 AM +UTC. The hacker had changed the deposit address that was displayed on Coindash’s ICO meant for contribution during the ICO, and siphoned around 37,000 ETH, which at that time were worth approximatekt $10 million USD. This recent return of funds of 20,000 ETH tokens to Coindash are currently worth almost $17 million.

This is second instance of such a return of funds to Coindash, as the hacker had returned 10,000 ETH tokens to Coindash’s Ehtereium wallets on 19th September last year, which were then worth about $3 million.

Ironically, the theft was quoted as a damaging event to both the company and its contributors. Now it has apparently turned out to be a net-gain in the dollar value of the capital of Coindash. After the latest transaction of 20,000 ETH tokens, the dollar value of returned funds of 30,000 ETH tokens taken at their respective times turns out to be a whooping $20 million. This is almost the double of the value of the token when they were siphoned off from the ICO.

Israeli Authorities Alerted

Alon Muroch, CEO of Coindash, issued a statement in lieu of the current development stating, “Similar to the hack itself, the hacker’s actions will not prevent us from the realizing our vision, Coindash product launch will take place next week as originally intended.” The prodeuct launch is current scheduled to be on Febuary 27th.

The blog further stated that the incident had been duely notified to the Counter Cyper Terrorist Unit in Israel and that the digital address of the hacker (the Ethereum wallet) would be tracked continuously for any suspicious activity.

 

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