ETH 20,000 Returned To Coindash - By The Same Address That Stole Them

Israel-based Coindash, a social trading platform, recently announced via its blog that 20,000 Ethereum tokens had been transferred to the company’s wallet from the same address that stole ETH 37,000 (USD 32 million) from them in July last year.

The transaction constitutes the second instance in which the hacker has returned funds to Coindash. Out of the ETH 37,000 that had been stolen during the company’s ICO (initial coin offering) last year, 10,000 have already been returned on September 12, 2017, then equating to approximately USD 3 million.

Back in July, the ICO was halted abruptly when it was revealed that it had been compromised. In total, they were able to raise USD 7.53 million before the Ethereum address it was using to solicit funds was altered to a fake one by an unidentified hacker, resulting in the ETH going to another source.

The now-returned ETH 20,000 are valued at approximately USD 17 million, notably more than double the amount that was stolen in the first place.

In total, the hack that has been described by the company as a “damaging event to both our contributors and our company” has now netted them a significant increase in capital.

The company’s CEO, Alon Muroch, said in his statement: “Similar to the hack itself, the hacker’s actions will not prevent us from the realizing our vision, Coindash product launch will take place as originally intended.” The launch is planned for February 27.

The blog also states that the company “notified the Counter Cyber Terrorist Unit in Israel” regarding the transaction.