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Coindash hacking details - $7.4 million stolen
17/07/2017
Coindash hacking details – $7.4 million stolen

Coindash hacking details – a hacker allegedly have stolen $7.4 Million in Ethereum with ridiculously Simple Trick during the Coindash ICO.

17 July, Cryptocurrency news – ICOs keep on making sensational headlines. This time, for a wrong reason as investors have lost over $7.4 mln worth Ethereum during the Coindash ICO. The incident is being described as the simplest cryptocurrency hack ever. Let’s look into Coindash hacking details:

Nothing to worry, your ethereum wallets are safe! During the Coindash ICO something went ridiculously wrong. A hacker broke onto Coindash website and simply changed the wallet details to his wallet and managed to steal over $7.4 million USD worth of Ethers from investors within just 3 minutes. While everyone was in rush to dive in to the Coindash ICO,  all this hacker had to do was tricking victims into sending money to the wrong address. Yes, investors sent their Ethers to wrong address without knowing it!

Coindash hacking details

Coindash hacking details is still unclear. How did this hacker manage to change the wallet details? In short, it was simply changing some text on the website! The hacker changed the ICO wallet details with his own wallet details. While people were in investment mode, they were actually sending their ethers to a hacker, not to Coindash.

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Although, Coindash noticed the hack in just 3 minutes, it was already late! The damage was done!

Investors had sent 43,438.45 ether (over $7.4 million USD at the current exchange rate) to the Coindash address that allegedly belongs to a hacker.

Coindash hacking details - company announcement

Another announcement followed throughout the cryptocurrency forums too:

GUYS WEBSITE IS HACKED! Don’t send your ETH!!! Wait for the announcement of the address.

Shortly after the hack Coindash marketing director, Ram Avissar commented the following:

“All we know now is that an outside attacker changed the address right after the sale started. We have halted the Token Sale contract and trying to understand the best way to compensate those who were affected.”

Coindash hack compensation options

Coindash announced a hack investigation forum. If you are an investor affected by the Coindash ICO hack, you should fill in the CoinDash token sale followup form.

The company made the following announcement on their website, providing coindash hacking details to those impacted:

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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