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Hacker Returns $26 Million Worth of Ethereum Back to Hacked Company

CyberWisdom Safe Harbor Commentary

Today I came across this story from bleepingcomputer.com that guides a hidden fact that the hackers have already returned $ 26.2 million worth of Ethereum to Coin Dash, which received funding from July 2017.

The money back in two batches. Last September, hackers sent back the first ETH ($ 8.7 million) and returned another 20,000 ETHs ($ 17.45 million) in the second round last Friday.

However, the hackers did not return all the funds, and CoinDash thought that hackers had stolen 13,400 ETHs ($ 11.7 million) from the 4300 ETH (37.9 million U.S. dollars) CoinDash.

Hackers happened last year

Cracked on July 17, 2017, three minutes after CoinDash launched ICO, a round of financing aims to raise Ethereum funding for CoinDash’s main product, the social trading platform.

Hackers hijacked the company’s official website and replaced Ethereum’s address, where users can send money to the official CoinDash ICO for CoinDash tokens.

The company acknowledged its mistake and eventually awarded the CoinDash token to everyone who remits the hacker’s address during a hacker’s attack. At the time, the stolen money was worth only $ 7.8 million.

No one knows why hackers return funds

It is unclear what drives hackers to return stolen funds. Some believe that even after nearly three-quarters of the stolen funds were repatriated, the remaining portion of the stolen Ethereum was still worth more than stolen money at the time of the theft.

Some experts believe that a hacker made a mistake because he did not wash away the stolen Ethereum after a hacker’s intrusion and now he is unable to move money because most cryptocurrencies trade names blacklip his address – The name of “FAKE_CoinDash” is tracked. – No exchange will help hackers convert their funds to legal currency or other cryptocurrencies, fearing legal action will be taken.

Because this is a world of cryptocurrencies, there are also many crazy theories. Some people think that hackers are internal work, the United States Securities and Exchange Commission began to crack down on ICO fraud, “hackers” to facilitate the return of the funds, the United States authorities ordered a bitcoin exchange administrator to lie.

Others see it as a media acrobat that draws attention to CoinDash, and CoinDash will launch a product in a matter of days. Either way, the money is irrevocable and, no doubt, it is returned to CoinDash. However, all users are tricked into remitting money to hacker addresses, which are CoinDash Tokens anyway, at least for users, which is one of the least frequent occurrences in 2017. CoinDash said it is still working with the Israeli anti-terrorism network to trace hackers.

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thumbnail courtesy of bleepingcomputer.com

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