Stealing $7 million of Ethereum from CoinDash took a hacker just 3 minutes

A lightning-fast raid on a cryptocurrency platform's website earned a hacker $7 million in three minutes yesterday. Moments after CoinDash launched its ICO (Initial Coin Offering, the cryptocurrency version of an IPO), the attacker modified the address of the wallet it used and watched as millions poured into their own account. The website was shut down as soon as the hack was discovered, but by this time $7 million had already disappeared. CoinDash managed to gather $6 million from investors, but funds stopped arriving with the shutdown. In a statement issued on its website, CoinDash acknowledged the incident, warned that the attack was still… [Continue Reading]