Hacker who stole 43,000 ethers has returned a major part of them
21 July 2018 witnessed the second biggest digital currency hack in history, where a hacker tricked the cryptocurrency giant, Ethereum. He took advantage of the vulnerabilities of the system and walked away with over 43,000 ethers. As per the latest updates received, he has allegedly returned over 30,000 tokens worth approximately $26 million USD back to the company over two transactions.
An unknown hacker found a critical loophole in a multi signature wallet of the Ethereum network last year and took advantage of it, thereby stealing over 43,000 ethers in a matter of a few minutes. Had he not been stopped soon, it is said that the person could’ve made away with funds in excess of $100 million from vulnerable wallets.
It is said that the hacker swapped Ethereum’s official wallet address with a fake one, which led to the hacker’s wallet. Investors who believed it to be the genuine wallet address of the company funded the hacker’s wallet, thinking they were investing in Ethereum’s new project. Over 2000 investors were said to have lost their money to the hacker.
Coindash, who had organized the ICO where the hacker stole ethers from, reported that the hacker sent back 10,000 ethers to Coindash’s crypto wallet on 12 September 2017. Another update received from Coindash said that the hacker has sent back roughly 20,000 ethers on 23 February 2018. It is unclear as to how many ethers are yet to be returned back to the company, but according to sources, the hacker still has about 13,400 ethers in his possession.
Alon Muroch, the CEO of CoinDash 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”.
Coindash will be launching its first product on 27 February 2018, according to its official website. It is unclear as to why the hacker has returned the tokens that he stole from the ICO. However, officials from the Ethereum network say that the Counter Cyber Terrorist Unit in Israel have been notified about the incident and that the hacker’s Ethereum address is being constantly monitored for any suspicious activity. It’s just a matter of time before we find out if Ethereum’s product will be a success or not.
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