Coindash Hacker Returns 20,000 ETH

Last year a hacker stole 37,000 ETH from Coindash during the company’s ICO, now the company announced that 20,000 ETH have been sent to the company’s wallet from the address associated with the hacker. The transaction constitutes the second instance in which the hacker has returned funds to Coindash.

 

 

At the time the 37,000 ETH was valued at approximately $10 million USD. The 20,000 ETH tokens returned to Coindash are currently worth approximately $17 million.

 

The transaction comprises the second time that the hacker has returned funds to Coindash, as 10,000 ETH tokens were sent to one of Coindash’s Ethereum wallets on September 19th, 2017 – then equating to approximately $3 million.

 

 

Ironically, Coindash described the hack as a “damaging event to both our contributors and our company,” but it now appears to have been responsible for the company netting a significant dollar-value increase in capital.

 

Following the most recent transaction, the combined dollar-value of the returned 30,000 ETH at the time of respective execution equates to approximately $20 million – or double the fiat-value of the stolen ETH at the time of the theft.

 

So should Coindash thank the hacker?

 

Full story: –  Hacker returns 20,000 Ethereum to Coindash

 

 

The current environment around the security of ICO and exchanges are creating an opportunity for new products that provide a secure environment.

 

Embedded Downloads recently announced the creation of the Embedded Exchange and “ICO- all in one” solution that will mitigate some of the security risks around ICO’s and exchange trading.

More here: –  Embedded Vault announces new Embedded Exchange with ICO All in One 

 

 

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