A total of ETH 20,000 were sent back to the address of CoinDash from an address that was used by a mysterious hacker at the time of the company’s ICO. The heist is actually netting the company a massive increase in the value of the funds available at its disposal.
At first glance, the benevolent act on part of the entity that tampered with the company’s ICO in July seems like a massive gain for the firm. The tokens that were stolen at the time were estimated to have been worth close to $7 million.
At current prices, returned ETH totals around $17 million. This tranche follows another ETH 10,000 that were returned to the company. At the time of the transaction in September last year, those were worth around $3 million.
All in all, the hack nets CoinDash a total of $13 million (assuming that the firm converts them to USD of course).
The launch of the company’s product, CoinDash, remains scheduled for February 27th. According to an official statement issued by the firm, the incident does not jeopardize the company’s plan.
What to Look for in a Liquidity ProviderGo to article >>
Commenting on the news, the CEO of CoinDash, Alon Muroch, said: “Similar to the hack itself, the hacker’s actions will not prevent us from the realizing our vision, CoinDash product launch will take place next week as originally intended.”
The company has notified the Counter Cyber Terrorist Unit in Israel about its receipt of the money. The Ethereum address from which the tokens were sent will be closely monitored for any suspicious activity.
The Ethereum accounts of CoinDash were previously made public: