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Coindash Surprisingly Receives 20,000 ETH From a Wallet Linked to a Hacker

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On the 23rd February, Coindash released a report through its blog indicating that the company received 20,000 ETH in its wallet at 12:01:41 AM +UTC. In July last year, the address interfered with Coindash, stealing about 37,000 ETH from ICO investors – which was valued at about $10 million USD at the time. The returned ETH tokens are at the moment estimated to be worth about $17 million.

The return was the second transaction from the said hacker. On September 19th 2017, Coindash announced that 10,000 ETH tokens had been returned to one of its Ethereum wallets, which were valued at $3 million at the time.

Surprisingly, the hack borne by Coindash in 2017, which was then seen as a hurtful event to our contributors and our company, now seems to have worked to our advantage as the company has netted a significant dollar-value increment in capital,

-Read part of the report by the company’s CEO, Alon Muroch.

The CEO explained that the company had not expected the return of the stolen ETH and the transaction was a surprise.

We have not been contacted by the hacker, or anyone related to the hacker… A hacker steals a lot of money and out of the blue returns some of it. It’s truly incredible, this industry,

-He said. Following the recent transaction, the company has now received 30,000 ETH from the anonymous hacker which is currently equivalent to about $20 million – or twice the fiat value of the stolen ETH at the time of the theft.

Notification to Israeli Authorities

Bitcoin News has stated that Coindash’s CEO, Alon Muroch, says the company notified the Israeli Counter Cyber Terrorism Unit about the hack. “The hacker’s Ethereum address will continue to be tracked and monitored for any suspicious activity”, read the CEO’s statement. The CEO was quick to note that the hacker’s transactions would not deter the company from realizing its vision.

Coindash product is still on and will be launched in the coming week as had been planned,

Coindash plans to launch its product on 27th February.

Image Credit: Deposit Photos

What’s your opinion on the surprise return of 20,000 ETH tokens from an anonymous hacker’s address? Leave us your opinion in our comments section!

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