CoinDash Hacking Conspiracy

As per the rising success of Bitcoin and other Crypto-currencies, there are equal number of scams also running in crypto space. Many people fall victim to all these crypto scams and all of a sudden their whole wealth get wasted. As per a study on crypto space, 90% of cryptocurrencies will be turned futile eventually and most of them are still has no value.
If we talk about the crypto market capitalisation, then it is increasing exponentially for few months and currently it has total market capitalisation of $145 Billion. This is really a huge number when it comes to cryptocurrencies capitalisation as majority of the cryptocurrencies are still in development phase right now and has no value as of now.
Although, success of the crypto market attracts many scams, hacking and conspiracies.

One of them is CoinDash, an upcoming Cryptocurrency project whose ICO got hacked a few months ago and $7 Million value funds had been transferred to a Fake Account used by a Hacker.

Let's Get to Know Something About CoinDash First

CoinDash is an upcoming cryptocurency project which provides it's users a platform where they can invest or trade in Cryptocurrencies or ICO's along with social interactions with others users as well. This platform provides it's users the supports they need during various phases of Cryptocurrency trading and investing like interactions with other users, performing automated trade orders as well as cryptocurrencies overview.

CoinDash ICO went online on 17th July 2017 where they had targeted to raise $12 Million but because of some unforeseen circumstances it was only able to raise $6.4 Million. CoinDash has a huge potential and even though after that hacking, people have trust in it.

Now, Let's talk about that Conspiracy cum Hacking Scam On CoinDash

On 17 th July 2017, it was the main ICO crowd sale day of CoinDash. All the investors were ready to invest in that potential platform. They set their Ethereum orders to send for Investment in CoinDash ICO. But all of a sudden, during the ICO CoinDash's website got shut down and a link shown up with different Ethereum address asking investors to send their Investment in it.
So, all the investors who sent their money in that address got mugged and a huge fund of $7 Million dollar get transferred to an unknown account. To be precise 1329 Ethereum transaction were made into that fake address involving the value of $7 Million.

Now, who is the responsible for that loss. To be Honest, no one could be held accountable as there are no central control over ICO's and once the money is lost, is lost forever.

CoinDash later announced that it'll provide Coindash tokens only to those investors who have invested only before the website got shut down. They won't refund a single penny to those investors who got mugged. Although, many people tried to raise their voice against the accountability of Coindash but still nothing happened.

Some mysterious sources revealed that it was an official of CoinDash who hacked their Website address but still these were just sentences based on speculation and conspiracy theories.

As we all know, Crypto space is full of conspiracy and every day, a new conspiracy arise out of no where.

So, Be Cautious while making an Investment in ICO's or Cryptocurrencies in General.

Thanks for reading ..!!

Author : @cryptonet

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