Hackers Returned ETH Stolen From CoinDash

In more than half a year from the hacker attack, CoinDash revealed that 20,000 ETH were sent from the hacker address back to the company
27 February 2018   403

CoinDash​ is an operating system for crypto assets, which aims to make handling and  trading easy and accessible. CoinDash’s marketplace is built around opportunity discovery and streamlined trading UX with features like​ real-time social trading signals, ICO dashboard, trending assets, real-time market price tables and 3rd party integration.

In July 2017 we have reported that CoinDash Token Sale received $6.4 Million from early contributors and whitelist participants, but, unfortunately, $7 Million were stolen during the hacker attack. As the time went, CoinDash launched an internet forensic investigation to determine who was behind the hack, but the identity of the hacker was never revealed.

Anyway, in late September of 2017, CoinDash claimed that hackers returned part of the funds stolen in July. In total, CoinDash got back 10,000 ETH, which was about $ 2.9 million at that time.

More than half a year passed from the time when hackers attacked CoinDash, and on February 23, 2018, it was revealed that 20,000 ETH were sent from the hacker address back to CoinDash.

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.
 

Alon Muroch 

CEO, CoinDash

CoinDash reported that the Counter Cyber Terrorist Unit in Israel was notified about the hacker's actions and the hacker’s Ethereum address will continue to be tracked and monitored for any suspicious activity.

It still remains unclear why the hacker who had managed to steal such a notorious amount of money, has suddently decided to return the funds back to CoinDash address.

Binance to Partner with Chainalysis for AML

Use of Chainalysis KYT solution will allow to compile with KYC- and AML-norms and also simplify the process of opening bank accounts
18 October 2018   74

The largest exchange by daily trading volume Binance uses software from Chainalysis, called Chainalysis KYT [know your transaction], to monitor real-time transactions and identify transfers related to criminal activity. This is stated in a joint press release.

Cryptocurrency businesses of all sizes face the same core challenge: earning the trust of regulators, financial institutions and users. We expect many to follow Binance's lead to build world-class AML compliance programs to satisfy regulators globally and build trust with major financial institutions.
 

Jonathan Levin

Co-Founder and COO, Chainalysis

Thus, the use of software from Chainalysis not only guarantee compliance with the KYC- and AML-norms, but also simplify the process of opening bank accounts.

By working with Chainalysis, we are able to continue building a foundational compliance program that enables the next phase of our growth. Our vision is to provide the infrastructure for a blockchain ecosystem and increase the freedom of money globally, while adhering to regulatory mandates in the countries we serve.
 

Wei Zhou

CFO, Binance

Chainalysis KYT release was held in April.