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   504

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 Join Forces With IdentityMind

IdentityMind provides exchanges with ability to comply with KYC\AML worldwide
26 March 2019   79

Binance announced an agreement with IdentityMind, which will help it ensure compliance with regulatory requirements and improve data security.

IdentityMind provides cryptocurrency exchanges with access to the platform, thanks to which they can monitor compliance with customer identification and anti-money laundering requirements in real time. This includes connecting new customers, managing their profiles and monitoring transactions.

The partnership between Binance and IdentityMind further strengthens our compliance capabilities and our commitment to re-invest in the blockchain ecosystem and grow it. We continue to evolve and enhance security systems while adhering to regulatory mandates in the countries we operate in. The goal is to foster greater trust among financial institutions worldwide.
 

Samuel Lim

Chief Compliance Officer, Binance

Last year, Bloomberg wrote about the Binance user identification system as the least strict in the entire industry, and linked the “level of anonymity” provided by the exchange with the risks of money laundering and market manipulation.

In October, Binance entered into an agreement with a supplier of transaction analysis software on the blockchains Chainalysis, and in November with Refinitiv, which developed an automated solution for client verification.

Whether the ordinary users of the platform will feel the impact of the integration of IdentityMind tools on themselves, the exchange does not specify.