After an Israeli blockchain technology startup project for the trading of Ether, called CoinDash, launched an Initial Coin Offering (ICO), allowing investors to pay with Ethereum and send funds to token sale's smart contact address..
But within three minutes of the ICO launch, an unknown hacker stole more than $7 Million worth of Ether tokens by tricking CoinDash's investors into sending 43438.455 Ether to the wrong address owned by the attacker.
CoinDash's ICO posted an Ethereum address on its website for investors to pay with Ethereum and send funds.
However, within a few minutes of the launch, CoinDash warned that its website had been hacked and the sending address was replaced by a fraudulent address, asking people not to send Ethereum to the posted address.
But it was too late, as the little change of address had already redirected cryptocurrencies sent by investors into the wallet of the hacker.