Hacker Steals Ethereum Worth $7.4 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.

CoinDash.io @coindashio

The Token Sale is done, do not send any ETH to any address. Official statement regarding the hack will be released soon.

3:39 PM - 17 Jul 2017

 
•  531531 Retweets
 
•  343343 likes

Twitter Ads info and privacy

 Follow

CoinDash.io @coindashio

Website has been hacked.

2:13 PM - 17 Jul 2017

 
•  719719 Retweets
 
•  513513 likes

Twitter Ads info and privacy

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

One step at a time, building the first global investment protocol

Four months ago, we began our work designing the first ever global investment protocol; last week, we released the first full draft of our whitepaper; today, I’m excited to announce the availability of our alpha testnet. While our whitepaper represents the first elucidation of the Topl protocol at the highest level, our alpha testnet is the first step in bringing this protocol to life.

We’re releasing the testnet today for two reasons. First, by continuously running our protocol in the “real” world, we can begin to test our system and work out any bugs (unforeseen features) all while continuing to issue upgrades and improvements. Second, we are publicly releasing our testnet — along with all of our code — as an invitation to all of you.

Our mission is to build a more open global financial system, focused on bringing capital to the regions of the world with the greatest need and potential for growth. In order to best accomplish this, we must take an open and global approach to the development of this system. We believe that this mission is one that is both exciting and worthwhile and hope that you may too. If you have any interest or experience in finance, global development, or the blockchain — or if you’re passionate about the power of innovation to solve some of the world’s great problems — we sincerely hope you join us on this journey.

In its simplest form, the Topl protocol is about connecting investors to enterprises in developing countries. Although this first release of our testnet lacks many important features, we believe it does well to illustrate the framework of the connections and contracts we hope to facilitate. So if you are, or would like to be, an investor in emerging economies or a business or project located in a developing country, we invite you to start playing around on the testnet.There will be no real money or value of any kind and no contracts will be considered real or enforceable, but your observations and feedback will be crucial to ensuring that when the product is finally ready, it is one that meets your needs and concerns.

On the other hand, if you are a developer, we encourage you to begin checking out our code base over on Github. We develop almost exclusively in Scala and Javascript, so those familiar with Java and the JVM or writing web applications should quickly feel at home. We’re a small but very open team, and we more than welcome your contributions!

---