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Hackers Steals $7 Million From CoinDash

Hackers have managed to hack CoinDash official website during the company’s ICO (Initial Coin Offering) and did diverted over $7 million worth of Ethereum by replacing the official wallet address with their own.

This tragic incident occured on Monday, just few minutes after the company launched its ICO in an attempt to raise funds in the form of Ethereum crypto-currency.CoinDash is a blockchain technology startup that bills itself as a social-trading platform.

The company gave this report on Monday saying, $7 million was stolen from investors who were trying to participate in the company’s initial coin offering.Due to the hack, Investors had been instructed to pay with ethereum and send funds to the token sale’s smart contact address.

 Letter From CoinDash

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 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

This is how severe the hack have gained horns, a whole company’s website is down and sadly enough they are now operating through their social media platforms.This is very sad hit for the company and my sincere condolences to CoinDash.

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