Israeli Hacker Allegedly Steals Almost 1% of Dash Crypto Coin’s Market Supply

The cryptocurrency community has been affected by a new fraudster. Apparently, an Israeli hacker stole 74,990.74 DASH, equal to almost 1% of the total Dash supply. This is according to a recent indictment filed against the suspected stealer Afek Zarad.

Hacker Steals 75k Dash From Crypto Enthusiast

The DASH community has been affected by a new hack. A crypto enthusiasts that collected Dash since 2013 lost all his Dash coins after a roommate allegedly stole his funds.

Dash is one of the most popular digital currencies in the market that includes privacy features. Other privacy coins include Monero (XMR) and ZCash (ZEC) and PIVX.

According to an indictment filed against Afek Zarad, he stole 26 million Shekels worth of this digital currency. This is equal to 74,990.74 DASH or around $9 million dollars. These funds are equal to almost 1% of the total supply of Dash.

Apparently, Afek Zarad transferred the funds to his accounts in five different transactions. After the funds were moved, he sent the money to other different wallets in order to erase the trace. It is possible to use mixing services in order to hide the coins in a better way. Dash transactions can be untraceable if the user decides to preserve its privacy and data.

However, it is difficult for the owner of the coins to provide clear evidence that he owned the coins.

At the same time, there are some questions regarding how the money was stolen and why the victim's accounts were not protected in a better way. There are several hardware wallets that allow users to store their virtual currencies in a very safe way. In this way, it is almost impossible to be affected by an attack or hack.

The Dash community will clearly be searching for more information about what happened with almost 1% of its supply. Anything can happen with the price of the digital asset if the funds are moved and sold or if they get frozen in a crypto exchange for a long period of time.

At the time of writing this article, Dash has a market capitalization of $1.07 billion. Each Dash can be purchased for $122 and it is the 13th largest digital asset in the market.