Over $7 Million Stolen After CoinDash Initial Coin Offering Hacked

Monday, July 17, 2017
By Paul Martin

by Tyler Durden
ZeroHedge.com
Jul 17, 2017

It was bound to happen: after hundreds of millions of capital was raised through “Initial Coin Offerings”, with the recently concluded Tezos coin offering raising a record $232 million in 2 weeks, it was inevitable that (at least) one would get hacked. On Monday morning, that’s precisely what happened to CoinDash, a blockchain startup focusing on “cryptocurrency social trading and portfolio management platforms”, which sent out an urgent warning to investors advising of a severe cyber security breach of its crowdfunding page.

Apparently the hack involved switching over the legitimate address to a fake one, to which “investors” were sending their funds. The CoinDash warning reads:

This is an emergency message delivered to you in order to stop you from sending your money to an unauthorized ETH address. It seems like our Token Sale page was tampered and the sending address was changed. Please stop from sending your funds to any of the addresses until we say otherwise. We are currently examining the situation and will shortly send further instructions.
The site also issued a follow up announcement:

CoinDashers, soon we will get the site back and release our official announcement about what just happened. Everyone who participate, both with the right & fraud address will get his CDT. Pleases be patient as we are trying to make things clear.

The Rest…HERE

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