CoinDash ICO Hacker Sends Back Ethereum Worth About $3 Million

CoinDash, the cryptocurrency social trading and portfolio management platform, has revealed some positive news for all those affected by its $7 miilion ICO website hack back in July. The cyber criminal behind the attack has sent back 10,000 ETH, worth about $3 million at an Ethereum Ethereum Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Read this Term price level of $300.

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The team also announced that they have notified the Israeli Counter Cyber Crime Unit, Lahav 443, about this latest development and that the investigation efforts will increase. They specify that the hacker’s Ethereum address will continue to be tracked and monitored for any suspicious activity.

This means that if the hacker hoped that he can get away with the rest of the stolen ETH, by sending some back to the company, the plan has backfired.

Alon Muroch, CEO and co-founder of CoinDash, commented to Finance Magnates: "We've been working close with the counter cyber terror police force. This might had some effect on what happened and hopefully will prevent future cases."

Lahav 443 is a national level crime-fighting organization of the Israel Police, equivalent to the American FBI.

Cyber criminals have been targeting the cryptocurrency ecosystem for years now – exchange and wallet hacks, exit scams, double spending, ransomware attacks, exploiting Smart Contract Smart Contract A smart contract is a piece of software that automatically executes a pre-determined set of actions when a certain set of criteria or met. One of the key tenets of smart contracts is their ability to perform credible transactions without third parties and are self-executing, with their conditions written into the lines of code that form themAdditionally, these transactions are both trackable and irreversible. For example, a smart contract could be used to give royalty payouts to a musical artist A smart contract is a piece of software that automatically executes a pre-determined set of actions when a certain set of criteria or met. One of the key tenets of smart contracts is their ability to perform credible transactions without third parties and are self-executing, with their conditions written into the lines of code that form themAdditionally, these transactions are both trackable and irreversible. For example, a smart contract could be used to give royalty payouts to a musical artist Read this Term vulnerabilities and more. Only yesterday we reported on the latest trend that investors need to look out for - fake ICO offers.