CoinDash loses even more: theft tops $10m

  Lamentable Ethereum ICO CoinDash сontinues to incur losses
19 July 2017   2769

Is an open-source blockchain-based distributed computing platform featuring smart contract functionality, which facilitates online contractual agreements 

The news about Ethereum ICO CoinDash continues shaking the community.

As you know, the ICO fell prey to hacker attack on July 17th. The hacker(s) managed to steal about $7 Million hardly had the Token Sale started.

The official CoinDash statement was published on the company’s website concerning  the refund for the investors affected. CoinDash took responsibility for their contributors' losses and promised to send CDTs reflective of each contribution.

Thus, contributors that sent ETH to the fraudulent Ethereum address, which was maliciously placed on the website, and sent ETH to the official address will receive their CDT tokens accordingly. However, transactions sent to any fraudulent address after the website was shut down will not be compensated, as CoinDash team detailed. 

Unfortunately, that was not the end of CoinDash ICO troubles.

An updated official statement is now out on their website. According to the report, money continues to trickle into an Ethereum address compromised during an Initial Coin Offering as a few prospective investors were still sending ether. As a result, the total lost in the theft has been brought up to around $10m.

Thus, 2,000 investors have now sent a total of 37,000 ethers to the fake address after the Token Sale started. At publication, around 43,500 ether had been sent to the address in total, bringing the value of the theft to just under $10.3m. 

As reported, CoinDash has launched an internet forensic investigation to determine who was behind the hack. The team still tries to keep their chins up:

The only way now is to move forward ... Such malicious attacks will not divert us from developing a product that will make crypto investments more accessible to the public.

CoinDash Team on their blog

More information is to be published as the investigation progresses.  

Wirex to Issue 26 Stablecoins on XLM Blockchain

Wirex chosen Stellar blockchain because company considers it safe, easily scalable and relatively inexpensive to use
25 April 2019   66

British online banking platform Wirex has announced the listing for the XLM token, as well as the release of 26 stablecoins on the Stellar blockchain, pegged to fiat currencies, including USD, EUR, GBP, HKD and SGD.

Prior to this, Wirex card supported eight digital assets and ten fiat currencies.

In addition, Wirex added the ability to instantly convert steablecoins to each other at over-the-counter rates.

As the company expects, new assets will be used for money transfers, issue and redemption of tokens, as well as for payments for services.

The choice of Wirex fell on the Stellar blockchain, as the company considers it safe, easily scalable and relatively inexpensive to use.

Last year Wirex became the third company in a row that received a license to provide services in the UK and Europe.