Ethereum ICO CoinDash hacked: $7m stolen

Ethereum ICO CoinDash has been hacked: $7m being stolen so far
17 July 2017   3903
Ethereum

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

Hardly had the Ethereum Token Sale CoinDash started (today, July 17th), the website has been hacked, reports CoinDash team on their blogs on Twitter and Facebook.

CoinDash warns the potental investors and tries to prevent them from participating in Token Sale until further official announcements will be made.

Blockchain

Distributed database that is used to maintain a continuously growing list of records, called blocks

The information on reddit.com allows to guess that it is very likely that scammers hijacked the website by calling domain registrar pretending to be CoinDash team. As reported, hackers changed the ICO address to their own and have stolen $7 Million so far.

According to the company, the site is to be get back soon and CoinDash is to release their official announcement about what just happened. Everyone who participated, both with the right address & fraud address will get their CDT, CoinSash detailed. 

'Kodak Miner' Turned Out to be a Scam

KashMiner by Spotlite USA was promoted as Kodak branded bitcoin miner 
17 July 2018   137

The KashMiner bitcoin miner, exhibited at the Kodak stand during the CES technology show in Las Vegas, was in fact a product designed to mislead potential consumers and with a potentially unattainable potential return. This is reported by BBC.

Spotlite USA is licensed by Kodak's lighting division, which allows it to use the famous brand in its products. In January 2018 the company introduced its miner and announced that it intends to lease it. According to its business plan, potential users had to pay a commission before getting the device. It was expected that after depositing $ 3,400, the customer will receive a device that will allow him to easily cover expenses and receive revenue from bitcoin mining.

However the company did not have an official Kodak license to use the brand in the production of mining equipment and initially overstated the indicators of the potential profit of its device, refusing to take into account the growing complexity and costs of bitcoin mining. The advertising materials reported that KashMiner brings $ 375 a month, which, subject to a 2-year contract, would allow the client to receive $ 5,600 of profit after paying a commission. Experts from the industry of cryptocurrency call this offer a scam.

There is no way your magical Kodak miner will make the same $375 every month.
 

Saifedean Ammous

Economist

CEO Spotlite USA Halston Mikail previously reported that he plans to install hundreds of miners at the headquarters of Kodak. According to him, he already managed to place 80 miners there, but the Kodak spokesman denied this information.

While you saw units at CES from our licensee Spotlite, the KashMiner is not a Kodak brand licensed product. Units were not installed at our headquarters.
 

Kodak Spokesman

In a phone call with the BBC, Spotlite's Halston Mikail said the US Securities and Exchange Commission (SEC) had prevented the scheme from going ahead.