HomeAltcoin NewsLatest Dash Theft Puts Crypto's Reputation on the Line

Latest Dash Theft Puts Crypto’s Reputation on the Line


When will all this malicious behavior end? Cryptocurrency theft continues to make digital assets’ reputations suffer, and with the latest Dash theft, things are looking rather bleak.

Dash Is Tough, but Thieves Can Be Tougher

In the past, Live Bitcoin News has reported that Dash is one of the most popular cryptocurrencies in developing nations, particularly in South America. In Venezuela, for example, many people are turning to Dash and bitcoin following inflation and the fall of their national currency, the bolivar. Once the richest country within the continent, the socialist agenda brought on by current president Nicolas Maduro has led the nation into an endless streak of poverty that sees grocery store shelves consistently bare and people attacking zoo animals for food.

In Venezuela and Colombia, Dash has garnered quite the reputation, and will likely continue to do so. It was recently added to one of Colombia’s largest crypto exchanges. In addition, Dash has also proven popular in countries like Israel, where it has now likely led to the breakup of two former friends.

Afek Zard, an Israeli citizen, has been charged with stealing approximately 75,000 Dash units from his “pal” Alexei Yaromenko after learning about cryptocurrency and its benefits. Yaromenko was a cryptocurrency trader and investor, and allegedly had stashes of coins stored in different wallets. Zard, in response, purportedly felt he’d make a solid target and seemingly targeted his Dash funds after he was left alone in Yaromenko’s apartment.

At the time of writing, it is unclear if the job was done strictly by Zard, or if other persons were involved. It is also unknown how Zard gained access to his friend’s Dash wallet password. Either way, the money was transferred using the currency’s anonymous features to four separate addresses. In all, it is estimated that the funds may have been worth more than $6 million USD – roughly $82.50 per unit at the time of the theft.

It is alleged that in terms of cryptocurrency holdings, Yaromenko may have been one of the richest Dash holders in existence. At press time, the largest wallet on the network holds a total of 125,000 Dash units. The price of a single unit has also gone up, and the 75,000 stolen units are likely now worth closer to $9 million.

Dash was Specifically Targeted

Israeli authorities claim that Zard may have used a process known as “coin shuffling” to try and hide his crime. Right now, the evidence they possess against Zard includes both physical evidence and testimony from Yaromenko, who has allegedly been trading cryptocurrency for the past six years.

It is strange that with so many years of experience, Yaromenko wouldn’t have taken further steps to protect himself and his funds. As of late, Zard is being held and a trial date has not been set.


Nick Marinoff
Nick Marinoffhttps://www.livebitcoinnews.com/
Nick Marinoff is currently a lead news writer and editor for Money & Tech, a San Francisco-based broadcasting station that reports on all things digital currency-related. He has also written for a number of other online and print publications including Black Impact Magazine, EKT Interactive, Seal Beach USA and Benzinga.com, to name a few. He has recently published his first e-book "Take a 'Loan' Off Your Shoulders: 14 Simple Tricks for Graduating Debt Free" now available on Amazon. He is excited about the potential digital currency offers, particularly its ability to finance unbanked populations and bring nations together financially.

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