As cryptocurrency has grown in relevance and value over the course of the last 12 months, cryptocurrency fraud has simultaneously become much more prevalent. With users flocking to services like Coinbase, Kraken, and others, it's inevitable that the hackers and scammers of this world would find a way to dupe the odd customer out of a few thousand dollars. However, we seldom see attacks of the scale of one witnessed last year, where an alleged hacker hacked a cryptocurrency startup called Coindash and replaced the legitimate Ethereum address for their brand new Initial Coin Offering with their own, tricking unsuspecting victims into sending them their Ether instead of to Coindash. The scam promptly brought in roughly 43,000 ether worth around $7.4 million at the time and approximately $37 million today.
However, it seems the legacy of that attack and the millions lost are still continuing and manifesting to this day, as the hacker appears to have been returning the money it took from would-be Coindash investors slowly, as well as returning funds directly to Coindash (such as in last September, when roughly 10,000 ether – less than a quarter of the total amount stolen – was returned to Coindash from the attacker's address. And that's only the beginning – last Friday the alleged attacker returned 20000 Ether, worth approximately $17 million, to Coindash.
In a statement, Coindash announced that they had alerted Israeli authorities of this windfall and that this return would not affect the launch of their first product, an upcoming portfolio tracker by the name of Blox. It's worth noting that after the ICO hack in July, Coindash said it would give tokens to anyone who tried to invest in the ICO even if they got scammed, and after the first return of funds in September, the company said that it was square with investors and would keep the returned funds, using them for development. It's likely that they do the same with this windfall, and we would imagine $17 million in extra funds won't hurt.
As the alleged hacker's address still seems to be in possession of 13000 of the original 43000 Ether, or $11 million USD in stolen cryptocurrency, we would not be surprised if this isn't the last we hear of this story, and of this seemingly remorseful hacker. Whether this is genuinely an act of repentance or a Trojan Horse-style plot to swindle Coinbase out of another few million's worth of cryptocurrency, we will have to wait and see in order to find out.
What do you guys think about this development? Is this hacker doing a genuine good deed or is this only the beginning of a Trojan Horse-esque scammer's plot? Let us know your conspiracy theories in the comments, or post about them over on our forums.