Recent Dash Theft Risks Cryptocurrency’s Reputation

Dash is among the most popular digital currencies in developing countries, especially in South America. For instance, many Venezuelans are turning to Bitcoin and Dash following the fall of their Bolivar and the inflation. President Nicolas Maduro brought on a socialist agenda that has led the country into an endless streak of poverty that witnesses bare grocery store shelves and individuals eating zoo animals.

Dash has gained quite a reputation in Colombia and Venezuela. It was recently listed on one of the largest Colombian cryptocurrency exchanges. Moreover, Dash has proven popular in nations like Israel, where it has seemingly caused the split up of two former friends.

Israeli Afek Zard was charged with stealing around 75,000 Dash units from crypto investor and trader Alexei Yaromenko upon learning about digital currency and its advantages. Yaromenko purportedly possessed stashes of coins held in various wallets. Zard allegedly targeted his Dash funds when he was left alone in Yaromenko’s house.

At press time, it is still unknown if there were other individuals involved and how Zard obtained access to his pal’s Dash wallet password. Funds were moved using the coin’s anonymous features to four different addresses. Altogether, the funds may have been worth over $6 million.

Yaromenko could have been one of the wealthiest Dash holders. Presently, the largest wallet on the network contains 125,000 Dash units. The price of one unit has increased, and the 75,000 stolen units likely cost nearly $9 million today.

Israeli authorities allege that Zard may have utilized a process called “coin shuffling” to try and conceal his crime. The evidence they presently have against Zard includes both Yaromenko’s testimony and physical evidence. Zard is now being held, and the trial date is yet to be set.