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RE: CoinDash ICO Hack: $7 Million Stolen - How Did This Happen And What Now ?
I haven't seen this story making many waves on any of the mainstream media so I don't think that the fallout from this will be as bad. People will try to blame the cryptocurrency. But really this wasn't any kind of technical problem. Human error allowed this. As people said the most simple thing to do would just be to use a smart contract within the ether network. That aside, I doubt that CoinDash will be able to compensate these people. Only time will tell. Biggest thing it will just remind companies doing these ICOs to be careful. Though I wouldn't be surprised if some people use this as a example/excuse to push for more regulations on ICOs.
Yes I totally agree. This could have been avoided, and making a big story about "the lack of security in ICO's" would be totally false (but still, I could have imagined some press writing things like that)
I could see it too. If it does pop up in mainstream media, we won't be surprised. I very much dislike how they try and vilify crypts or present them as unsafe. When every situation like this has really been due to human error. Just more excuses to crack down on cryptos. Still, good article as always. Thanks for sharing.