The company’s ICO was hacked in July, with the losses estimated at the time to around $7mln.
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, the latest batch of ETH that has been returned to the address of CoinDash totals to around $17 million. This tranche follows up on 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 those to USD of course).
The launch of the company’s product, CoinDash, remains scheduled for February 27th. Accoding to an official statement issued by the firm the incident is not jeopardizing the company’s plan and commitment to its plans.
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 the receiver of the amount on its account. The Ethereum address from which the token’s were sent will be closely monitored for any prospective suspicious activity.
The Ethereum accounts of CoinDash were previously made public: