Coindash website has been hacked!😰 DO ✋ NOT 🚫 SEND FUNDS💸!

in cryptocurrency •  2 years ago  (edited)

Coindash, having their ICO today have been compromised. A hacker exploited their site and swapped their donation address with his own.

THE HACKED ADDRESS (DO NOT SEND ETH HERE AT ALL)

The hacker has raised close to 43,500 ETH, for a valuation of close to 7.5 million dollars.

Pundits, that cry for more regulations will augment this situation, to push for more regulations.

Instances like this, highlight the importance of releasing the donation address well in advance, instead of last minute.

Scammers, have been taking advantage of panicked investors for many months now, via slack.

They usually imitate the developers, and during the time of a crowd sale, suggesting contributions to their own addresses.

Investors usually frenzied by time, assume that the address distributed in the slack -- is the official one. Unfortunately, these people are scammed out of their digital funds due to their eagerness and naivety.

Scammers recently have elevated their schemes, by creating fake websites, they have been baiting investors through slack, stealing their private keys and JSTOR wallets.

Please please please!

Perform due diligence while participating in ICOs.

There is no shame to miss out!

I missed out participation due to sellout in:

BAT
&
Bancor

In hindsight, it has been a blessing.

Lately, developers of ICOs have hit a new level of exorbitant greed.
However, these issues I will discuss and bring up in another post!

Be careful while investing in the Wild Wild West of ICO's!!!

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Thank you for the information, I wonder how they can develop a safe and secure product when they can't secure their website. Soon a 12 years old will launch an ico.

Yeah, having $7 million dollars hacked is almost 1/8th of the total funds sent to the DAO. Granted that was a greater ordeal, I wonder how the ETH dev's will handle this situation? Another hard fork? How will they mitigate this shit show? Will code be law? This is going to open a new can of WHOOP ASS. lol.