07 Apr '15, 1pm

Bitcoin Firm Coinapult Restores Services Following Hack

Bitcoin Firm Coinapult Restores Services Following Hack

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 Justin Blincoe said customer funds had been unaffected, as the hot wallet was only used to store funds owned by the bitcoin startup. In a bid to prevent future incidents, Coinapult has implemented 2 of 3 multisignature security, meaning that every withdrawal must now be cosigned by a Coinapult...

Full article: http://www.coindesk.com/bitcoin-firm-coinapult-restores-s...

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