Coinapult Claims $40k Lost in Hot Wallet Compromise
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:
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One of the longest standing, online Bitcoin account providers Coinapult has suffered a hot wallet attack in which 150 Bitcoins have been lost. The total loss has been estimated to be close to $43,000. The company has initiated an inquiry into the incident and made an official statement on its website: "Coinapult is investigating a compromise of its hot wallet. Customers should NOT SEND bitcoin to existing Coinapult addresses starting IMMEDIATELY. This includes Lock Addresses (automatic lock address). Updates will be provided here as they become available." Customers who have unknowingly....
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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 announced that they have had their hot bitcoin wallet compromised. The amount of BTC they said is 150 coins. The hack comes on the heels of their deal with Factom. Bitcoinist covered the news on their deal. From the article about their working with Factom. Coinapult CEO, Ira Miller, had the following to say: Coinapult melds trustless, blockchain-based tokens like Bitcoin with familiar assets like US dollars. These are notoriously different and incompatible. Factom allows us to bridge the gap by digitally tagging and verifying centralized assets. Factom lets Locks act more like a....