Filter search

Details
Category: Companies
Hits: 1830

Coinapult, a Panama-based bitcoin wallet startup, has announced that its website is resuming operations at full scale after hacker attacks in March.

 

The company’s hot wallet suffered from a hacker attack on March 17th, which led to the loss of 150 BTC. After warning their users, Coinapult stopped their services and notified the police. Unfortunately, neither Coinapult’s own investigation nor the authorities’ hunt brought any results:

“Despite further in depth analysis, we have not yet been able to determine the specific entry point of the attack. We took extensive measures to protect against this sort of thing, and the hacker covered his tracks.”

After the attack, the Coinapult team has been working on enhancing its online security and on restoring the bitcoin wallet. They have moved all operations onto new servers that use new hostings and have joined the CloudFlare network to protect the website. CloudFlare is popular with bitcoin businesses. Reddit uses the network to protect the website from DDOS attacks.

They have also rebuilt their hot wallet with help from Coinkite. The multisig wallet now currently requires manual cosigning which is allegedly a safe method of signing withdrawals. Due to that change, the withdrawals will be signed only during the hours of 9am-9pm in Panama. The team is working on restoring instant withdrawals.

 

Coinapult is known for its Locks service and for making it possible to send bitcoins by email and SMS. It sees developing countries and their unbanked populations as its target audience.