[2018-02-26] Hacker Returns $26 Million in Ether Months After ICO Theft

[cybersofts]

Hacker Returns $26 Million in Ether Months After ICO Theft



A hacker who stole more than 43,000 ether tokens from would-be investors in CoinDash has returned a majority of the funds to the startup.

The company reported that the thief returned 30,000 tokens over two different transactions, the first in September 2017 and the second last Friday, to CoinDash's wallet. At press time, the tokens were worth a little more than $26 million.

The thief still has some 13,400 tokens ($11.6 million) after the second transaction.

The hack was first reported in mid-July 2017, when the hacker managed to compromise CoinDash's fundraising site, swapping its ethereum address with another one. Users believed they were purchasing tokens and supporting the project, but more than 2,000 of them actually funded the hacker, as previously reported by CoinDesk.

At the time, the stolen ether tokens were worth roughly $10.3 million.

Investors who unwittingly donated to the hacker still received CoinDash's CDT token, though anyone who donated after the project's website was shut down did not. At least one user reportedly sent 50 ethers to the compromised address after it was shut down.

Despite the theft of its funds last year, CoinDash intends to launch its first product on Feb. 27, according to its website. This product will be a social trading platform, which CoinDash states will be integrated with several cryptocurrency exchanges, including Poloniex, Bittrex and Binance.


Source: https://www.coindesk.com/hacker-returns-26-million-ether-months-ico-theft/

[CryptoBry]

This story is very rare in the scamlandia we are in. Maybe it would be worth to explore the reasons why the hacker eventually returned the stolen Ethers. Is it possible that he is already tracked and his identity already known? Anyway, I am sure this is just an exemption rather than the rule as hackers are known to be ruthless and they are having a good time in the world of cryptocurrency. This can be the biggest boost to CoinDash who eventually managed to continue on its project even with limited funds.

[Slow death]

This story is very rare in the scamlandia we are in. Maybe it would be worth to explore the reasons why the hacker eventually returned the stolen Ethers. Is it possible that he is already tracked and his identity already known?

probably someone who knows his real identity must have forced him to give back some of the money and I suppose he must have used the other money that he did not give back, how ever he will be discovered and on that day he will pay for his crimes, unfortunately that kind of way (the way of being a thief) never has a good ending. At the moment the thief decided to change his life, he will discovered and arrested

Anyway, I am sure this is just an exemption rather than the rule as hackers are known to be ruthless and they are having a good time in the world of cryptocurrency.

I would say that this could be an example that they must go another way, stop stealing money from other people

Hacker Returns $26 Million in Ether Months After ICO Theft

This shows that either he had a heavy conscience or someone knows his identity and failed to report the police

[superjeyy]

We may not know what the real reasons are for the hacker's change of endeavors, but all I can say is that somehow and in some way the saying "guilt can truly eat you alive" can still be applicable in the said situation. I mean with all the courage and boldness he had for stealing that amount of money, how can you imagine this hacker turning back and returning them months after? I feel like the guilt and fear in him may have been so strong that it resulted for him to not come through. I mean the outcome of this occurrence is truly unusual, but what now? I dont know how to describe what he did but crimes are still crimes. He should be punished in some way despite returning what he stole.

[Lucius]

It's a positive thing that hacker return 30 000 tokens,and there is a possibility he will return the remaining amount.The fact that between first transaction (September 2017), and second (February 2018) has passed several months indicates that some kind of negotiations have been conducted amongst hacker and CoinDash.Since he return most of tokens this was probably hack to point to some security flaws and then ask company for some reward.

I doubt that CoinDash offer anything to this hacker,so he is maybe trying to keep some % of tokens for himself in a legal way, as a reward for find security flaw.If it was a hacker who want to keep all tokens this company will never get back anything.

[1Referee]

Logically, the first main incentive for the hacker to return the funds is because of their taint, perhaps even in combination with some sort of a reward for the hacker that they didn't communicate with the outside world (yet). If the coin itself is basically an open book like Bitcoin itself is, then it's somewhat of a wasted effort due to how easily everyone can track the coins. I don't believe that the hacker returned the coins because of regret or guilt feelings - if you have no moral problems with committing such thefts, you won't suffer from regret or guilt, that's for sure.

[Sir Cross]

Logically, the first main incentive for the hacker to return the funds is because of their taint, perhaps even in combination with some sort of a reward for the hacker that they didn't communicate with the outside world (yet). If the coin itself is basically an open book like Bitcoin itself is, then it's somewhat of a wasted effort due to how easily everyone can track the coins. I don't believe that the hacker returned the coins because of regret or guilt feelings - if you have no moral problems with committing such thefts, you won't suffer from regret or guilt, that's for sure.

It's possible that he felt like the theft was a mistake and did not feel any satisfaction even after attaining the coin. It's not likely for thieves to feel guilt unless they are driven to commit the crime out of desperation. He may have returned it for other reasons, which is very unlikely for a thief. The hacker may have had other intentions or plans for the funds but for whatever reason it was he made the return, this act is favorable for the investors of CoinDash.

[Rodon]

Well, that's pretty nice of him to return a part of the money he has stolen. If it were me, I would kept it: what is the point to stole money and then give it back?

[Facinat]

Well, that's pretty nice of him to return a part of the money he has stolen. If it were me, I would kept it: what is the point to stole money and then give it back?

Our government does it all the time.

[Lucius]

Well, that's pretty nice of him to return a part of the money he has stolen. If it were me, I would kept it: what is the point to stole money and then give it back?

Obviously you have not read any post in this thread,maybe to try read post number 6?

There are at least two types of hackers,those who hack something or someone with the intent to steal something and others who hack some site/institution just to point to security flaws,but generally do not try to steal anything or do some sort of damage.In some cases, they are rewarded for their "work" becuse some company would lose a large amount of money and reputation if some bad hackers discover security flaw in system.

In this particular case I gave my opinion,it is possible that the hacker will return the rest of the tokens or he will keep them as reward for his work.

[ranman09]

I don't know if this is possible but. He is a hacker. What if somehow he/she managed to detect himself hacking those coins. He somehow realized he cant cover this up and the best way is to end the track (the link between address to address). This is possible I think.