On the 28th of March, 2016, Toronto-based bitcoin hardware manufacturer Coinkite announced its decision to exit the web wallet business due to various technical and legal issues.
At the time, the company warned existing users of various phishing attempts and to watch out for suspicious email communications purporting to originate from Coinkite.
In a security bulletin published today, Coinkite has warned that the entire database, which contains sensitive login details, may have been leaked when the company was shutting down their web wallet IT infrastructure.
The security notice reads:
“While we were turning off servers, disabling firewalls and cleaning up backup systems today, we may have leaked a copy of our database.”
Coinkite staff explained that all user login credentials are “salted and SHA256 hashed with 131,072 rounds” and advised all former Coinkite wallet clients to change their passwords on other services that use similar login details.
The security bulletin also stated that most clients had already withdrawn their funds prior to today’s incident and that no funds are currently at risk.
If you liked this article follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.
Step Finance has disclosed a significant security incident involving its protocol-owned funds, marking one of…
The crypto industry is once again grappling with a rising wave of security breaches as…
Ethereum co-founder Vitalik Buterin is once again challenging a popular crypto narrative, this time around…
Shockwaves moved through the Solana ecosystem after DeFi dashboard and portfolio platform Step Finance confirmed…
Tether has released its Q4 2025 quarterly attestation, and the numbers confirm what much of…
Lighter is officially stepping beyond its roots as a high-performance perpetual DEX with the launch…