$26 Million: CoinDash ICO Hacker Returns 30,000 in Stolen Ether

$26 Million: CoinDash ICO Hacker Returns 30,000 in Stolen Ether

A hacker who stole nearly 43,500 ether tokens after compromising an ICO from blockchain firm CoinDash last year has returned 20,000 ETH in a recent transaction, adding to 10,000 ether tokens returned in September.

In an update on Friday, blockchain development startup Coindash confirmed the return of 20,000 ether tokens (approx. $17.8 million in current rates) from the hacker who initially stole over 40,000 ether tokens from prospective investors during an ICO fundraising last year. The 20,000 returned tokens are in addition to 10,000 ETH reverted back to CoinDash previously in September.

As reported by CCN at the time, the perpetrator hijacked CoinDash’s website during its token sale event before replacing the company’s ethereum donations address with his or her own. Over 2,100 transactions took place with investors channeling funds to the hacker’s address. According to Etherscan, the hacker still has a balance of 13,000 ETH. While that still counts for an estimated $11.4 million in value, the hacker has now returned a majority of the funds back to CoinDash.

Meanwhile, CoinDash insists that the launch of its product, an Ethereum smart contracts-enabled social media platform is still scheduled for today, stating the theft will not ‘jeopardize’ the company’s plans.

The product, which has already been put through a beta review phase, will see the automated integration of Ethereum-based wallets for a handful of major exchanges including Bittrex, Binance and newly-acquired Poloniex. The default currency in the platform is available in USD, Euro and Bitcoin, now we’ve added GBP as well,” CoinDash said earlier this month.

Featured image from Shutterstock.

04.03.2018 / 09:51 110
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