The CoinDash project announced that is giving back more than 50% of the ethereum that was stolen during last year’s initial coin offering. The startup declared that this is a refund made by the hacker who stole the funds. Reportedly the address which made the compensation is associated with one of the attackers. This event comes after in July 2017 the platform suffered a theft of 37,000 ETH worth $10 million at that time.
With an official release, Coindash reported that on February 23 at midnight, 20,000 ETH were transferred back in their account. At the current rate, the value of the restored ethereum rises to $17 million. This is the second time when the hacker returns the funds. In September 2017 a mysterious address presumed to be the attacker placed in Coindash’s account more than 10,000 ETH.
20,000 ETH were sent from the Hacker address back to CoinDash, product launch stay on schedule. Our official statement can be found here: https://t.co/s9dWmWjt0G
— CoinDash.io (@coindashio) February 23, 2018
The CEO of Coindash, Alon Muroch, declared that the hack did not stop the launch of the platform. Due on February 27, 2018, the project aimed to raise more $12 million.
According to the company, the Anti-Cyber Terrorism Unit of Israel has been notified of the late transaction. The Israeli Cyber authority will continue to monitor and prevent any reoccurring acts of theft or illegal activities.
The company did not reveal how the investors will receive the stolen ethereum. However, the company released a form dedicated to the investors who have lost their funds during the theft.
With the new refund, Coindash has recovered more than 30,000 ETH of the stolen 37,000.
Many voices have speculated after the attack that the company itself made the theft as a marketing stunt. Following the recent event, many users and investors still believe that the stolen ethereum was in the hands of Coindash from the beginning since it does not make sense for a hacker to expose himself by returning the stolen funds.
While nobody knows exactly what happened the good news is that the crypto investors will finally receive their money back.