Why do we need strict regulation of ICO or CoinDash thieves?

Jhon Kelerman
6 min readOct 28, 2017

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I’m Jhon Kelerman CEO of CryptMount. You can say that I am a private investor. Like most ICO participants

I would like to offer you news and tell a very interesting story related to the company CoinDash.

At the moment, our claim to the company CoinDash : invested at pre-ICO sale ~$69,800 (now costs); foregone profit ~$150,000 ; loyalty bonus CDT 53,429.517 (I buy pre-ICO 1,444,041 CDT)

As you know, at the pre-sale of the tokens, they failed in connection with the substitution of the address. But they promised to pay all the funds to investors.

So, our company invested about 237ETH (50,000 USD at the exchange rate on the date of transfer). And ofc, you can see transaction on etherscan:

After this incident, Coindash notified everyone that the investments that were transferred as a result of their hacking will be returned. And they opened a form to request them.
At this time we could not send ETH to anyone through our wallet app.
The transaction was visible on our service, but on etherscan it was not there and the money came back after a while. In consequence of this, we have done a complete hacking of our workstations to protect ourselves from viruses, etc.

My manager contacted by skype with a representative of CoinDash (Ram Avissar, skype: ramche8)
They had communication for half a month. But they did not come to anything. Ram asked to wait and give time to deal with this matter. We waited for weeks, but he constantly said that he could not do it, etc.

I’ll give a few messages.

And that’s all, after that he starts talking again about the fact that he does not like it and he wants more time. We go to the contact, and agree with this, because the exit to the stock exchange was not yet open and the trade CDT did not begin.

After a long message — “when we get our investment and how much we still have to wait.”

He sent a solution to the problem — “so that we sent some of the ETH to some kind of purse.”

solution to the problem

As you can see, this wallet does not belong to Coindash. YES, absolutely for sure, this could be the personal purse of this guy, but how do we know about it?

About this time, a manager wrote to me and told me about this situation. I said that we will not do any transactions. And if they want, let them contact me by mail to solve this issue. It is better to contact CEO CoinDash.

I said that we will not do any transactions

At the email, Ram asked the same questions. He heard our answers, but it did not help anything, either, or he did not understand or was wasting time.

He heard our answers, but it did not help anything

After, he already tortured me with his misunderstanding and delaying the time. I agreed to send these ETH to an unreadable address.

I agreed to send these ETH to an unreadable address.

I made the transfer from the address to the new purse for CDT, it was very slow, and I wanted to make the translation back so that he could make sure of it.

But it was not safe, I’ll say it again.

And we could not do the reverse translation, or rather we sent it, but we had no access, we got a black screen and a message that all the files were encrypted.
And we immediately turned to the etherscan to inform everyone about it. Also written on reddit, bitcointalk and sent a letter to all our partners.

inform everyone about hack

After a quick decision, we could not get access back. But all our partners were also informed about this. We have made new wallets for making investments and continuing work for now.

We have made new wallets for making investments and continuing work for now.

And after that a few days later Adam Efrima wrote to me.
He asked for contacts to talk.

Adam Efrima wrote to me

Look, he writes that he can not find me on Skype. I thought it was a joke. what?? You can find me by email or the name Jhon Kelerman Switzerland. I think it’s not so difficult (LOL) especially for CEO CoinDash.

But ok.. I specifically registered with the telegram to communicate with him, but it did not give anything, neither I nor he could not reach me.

And after that he writes to me again the same thing as it was more than two months ago. Send a piece of ETH to me for confirmation. But they ask to be sent from an address to which we do not have access from the moment of hacking! I wrote to him several times already, he does not seem to see it!
or does not want to see on purpose?

At this point, I realized that they did not want to make any return on investment. We constantly ask what we can not do at the moment. We have not deciphered the private keys yet, and it is not known how long this will take. They also want us to send the confirmation from the address, but we can not do this for obvious reasons.

Here is a story that has been dragging on for more than two months. I do not know, maybe some of the investors got into a similar situation. To whom they have not yet paid.

Last correspondence with Adam Efrima Co-founder and COO CoinDash.

Maybe they’re smoking something there?

Absolutely incomprehensible people. They ask questions, get an answer, but there is no result from this.

Maybe they need to send DNA samples or a sample of blood .. how do you think?)

We contacted the interpol through our police department, but they can not take this matter for granted yet, because this is a crypto currency and there are no laws so far, that was their answer. But we intend to take this business seriously and bring it to the end.

At the moment, our claim to the company CoinDash : invested at pre-ICO sale ~$69,800 (now costs); foregone profit ~$150,000 ; loyalty bonus CDT 53,429.517 (I buy pre-ICO 1,444,041 CDT)

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