Featured Photo by: Ella Macdermott
In a plot-twist, that could be straight out of a Bollywood flick, a hacker returned 20,000 Ether (worth $17 million) to CoinDash, after stealing it from the company, sometime last year.
CoinDash launched in 2017 to help users manage, track, analyze and get a ‘bird’s eye view’ on value of crypto assets. In July 2017, moments after its Initial Coin Offering (ICO), CoinDash told its investors that an ethereum hacker who had made away with 43,000 ether tokens (ETH) during its July 2017 ICO, quietly returned 20,000 tokens to its wallet.
In a blogpost, CoinDash’s Chief Executive Officer (CEO) Alon Muroch said, “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”.
CoinDash product launch is still scheduled for February 27th and this incident will not jeopardize the company’s plan and commitment to our community, he added.
However, the company has taken steps to ensure its protection. They have notified the Counter Cyber Terrorist Unit in Israel where the company is based. Apart from that, the hacker’s ethereum address is also being watched for signs of suspicious activities.
In November 2017, the hacker(s) had apparently returned 10,000 ETH to CoinDash. On that occasion, CoinDash had requested the hacker to return the rest of the funds too. A blogpost published on the same had said, “As the attacker returned 10K ETH to the company’s ETH account, we encourage the attacker to send back the rest of the stolen ETH to mitigate the damage to CoinDash and TGE participants. CoinDash and the leading investigating authorities will respond favorably towards such actions.”
The reason behind the hacker’s move is not yet clear.
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