Tuesday 18 July 2017

Hacker Steals Ethereum Worth $7.4 Million From CryptoCurrency Trading Website

Hacker Steals Ethereum Worth $7 Million From CryptoCurrency Trading Website

Hacker Steals Ethereum Worth $7.4 Million From CryptoCurrency Trading Website

On Monday, CoinDash, a digital currency trading platform for Ethereum launched Initial Coin Offering (ICO) to raise funding for new cryptocurrency and at the same time Hacker took control of the website for three minutes and replaced the official Ethereum wallet address to his ETH address.

When people were trying to invest in CoinDash, they transferred their funds to the Hacker wallet, not the company wallet. At that time investors have sent approx 43,438.45 ETH which is equivalent to $7.5 Million USD (Current Exchange rate).

EtherScan.io, a website which tracks the Ethereum Wallet transactions is also giving warning. "There are reports that the CoinDash Crowdsale address has been compromised".

CoinDash Slack channel screenshot 

It Could be Scam

Cryptocurrency enthusiasts are openly sharing on Reddit and Slack that this could be a big SCAM too. HackersOnlineClub are not officially giving any remark on this incident.

Coindash giving statement,

Dear CoinDash contributors,

It is unfortunate for us to announce that we have suffered a hacking attack during our Token Sale event. During the attack $7 Million were stolen by a currently unknown perpetrator. The CoinDash Token Sale secured $6.4 Million from our early contributors and whitelist participants and we are grateful for your support and contribution.

CoinDash is responsible to all of its contributors and will send CDTs reflective of each contribution. Contributors that sent ETH to the fraudulent Ethereum address, which was maliciously placed on our website, and sent ETH to the CoinDash.io official address will receive their CDT tokens accordingly. Transactions sent to any fraudulent address after our website was shut down will not be compensated.

This was a damaging event to both our contributors and our company but it is surely not the end of our project. We are looking into the security breach and will update you all as soon as possible about the findings.

The CoinDash vision, product and team will continue to live on. We will be fast to recover and we will create the future of trading.

Reminder: We are still under attack. Please do not send any ETH to any address, as the Token Sale has been terminated.

More information will be published on our social channels and our website.

-CoinDash Team


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