CoinDash is blessed by Hacker: 20,000 hacked ETH returned to company's wallet
About 20000 ETH was hacked during Israel-based CoinDash. Hacking was done by changing the wallet address to receive the fund during CoinDash's ICO which resulted in loss of about $7 million. The price of ETH is now changed and the returned coin worth about $17 million. CoinDash is launching its product today on 27th February and this is a nice gift by hacker.
CoinDash product launch is still scheduled for February 27th. In a statement, CoinDash said that company has informed Counter Cyber Terrorist Unit in Israel
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how come, a bug in smart contract?
No, it was not a bug. CoinDash wallet was changed to hacker's wallet on the website where the company was accepting ETH at ICO stage. This lead to deposition of ETH to hackers account. The current transfer of money is directly from that wallet to CoinDash's wallet. So there is no bug, it was intentionally done. Cybercrime branch is monitoring hacker's wallet address to see any possible future suspicions activities.
I will continue to support ETH
Yes ETH is one of the best crypto coins. Ethereum platform is enabling many ICOs to raise money using smart contract.