Exclusive 20 Minute Interview With Coinapult COO & CFO Justin Blincoe

One of the longest-operating bitcoin startups has suffered a hot wallet attack that resulted in the loss of 150 BTC, or roughly $42,900 at press time. Founded by Ira Miller and investor Erik Voorhees in 2012, Coinapult announced the compromise on Twitter, advising customers to refrain from sending bitcoin to Coinapult addresses until the problem is resolved. Coinapult COO and CFO Justin Blincoe stressed that the hot wallet was used only for funds owned by the bitcoin wallet and service provider, and that no customer funds were affected. Blincoe told CoinDesk:

Bitcoin storage provider and payment processor Coinapult is back online following a hack-related outage last month. Following a series of security improvements, Coinapult users can now deposit funds and 'lock' and 'unlock' their bitcoin to fiat currencies or assets. They were previously given login access on 21st March and withdrawals were re-enabled five days later. The hot wallet attack, which occurred on 17th March, resulted in the loss of 150 BTC (approximately $42,900). Coinapult announced it was halting all operations via Twitter the same day. At the time, Coinapult COO and CFO....

Coinapult has raised $775,000 in funding from a group of notable investors and investment firms, including Barry Silbert's Bitcoin Opportunity Corp, angel investor Roger Ver and technology-focused VC firm FirstMark Capital. The Panama-based bitcoin wallet service provider raised the capital through two rounds of funding, and aims to use the money for additional marketing and product improvements. Speaking to CoinDesk, Coinapult CFO and COO Justin Blincoe indicated that the biggest benefit for his company will be the expertise of its now-solidified investor group, which he characterized as....

Following a hacking incident last month, bitcoin firm Coinapult was able to restore its services and is back online. The payment processing company implemented a series of security improvements designed to prevent further outages. Coinapult users can now lock and unlock their deposits with the bitcoin firm to fiat currencies or assets. The hacking incident, which occurred mid-March, prompted the firm to halt its operations and make the announcement via Twitter. Bitcoin Firm Security Upgrades. The bitcoin firm attack resulted to a loss of 150 BTC, which was approximately equal to $43,000....

On Friday November 28, Coinapult re-launched their Bitcoin by SMS service and announced it via a reddit post titled“Send BTC by SMS – a new, global service from Coinapult that operates through plain old txt msg, no need for a data plan. Bitcoin can boldly go where it hasn’t gone before.” The post received 245 comments and 901 upvotes, and theCoinapult SMS walkthrough infographic received 54,093 views. The top voted comment was a question about the security of the Coinapult SMS service. It turns out that it is possible for a dishonest telecom employee to intercept or distort messages in a....