CoinDash, a startup aiming to build a social trading platform for crypto-markets, on Wednesday announced its token distribution plan after the major hacking attack in which it lost around $10 million.

As the startup currently does not hold enough liquid CDT tokens to proceed with the planned distribution, it said that it would have to create a new CDT contract containing the same amount of tokens. CoinDash said that this would enable it to distribute the tokens to all the contributors.

The whitelist participants received the original CDT tokens to their addresses as part of the smart contract distribution specifications. For replacing their existing CDT tokens, CoinDash said that it would have all whitelist contributors holding CDT tokens burn the tokens, adding:

“We will than take all sending addresses to the CDT burn address and implement them to the new contract along with their associated token count. Make sure you send your CDT tokens to the burn address no later than Sunday July 23rd, 10 PM GMT so we could assign you the tokens automatically.”

In addition, contributors who sent ETH to the fraudulent address would also be credited in CDT, reflective of their contribution, the company said.

“The CDT tokens will be distributed to those who have filled out our form and have been verified as contributors. After getting all the information from the claim form sorted and with the data from the burn address, all the distribution addresses will be implemented in the new contract”, CoinDash added.

The startup expects the distribution to take place next week. Also, in order to stabilize the CDT price following its distribution, CoinDash announced CDT bonuses to anyone who will hold their tokens and not engage in any trading activity for 6 months from the distribution date.

CoinDash has filed an official police complaint at the Israeli cyber security law enforcement - Lahav. It has also approached a number of private cyber investigation parties and is now waiting for their report.

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