Toronto-based Coinkite says software bug meant passwords were less secure than thought
Dozens of bitcoin investors around the world received a rude awakening last week after discovering they had collectively lost millions of dollars after their accounts with Toronto-based crypto storage company Coinkite Inc. were compromised. Within minutes, at least 1,600 bitcoins — worth about $140 million — were drained from users of the company’s cold wallets, according to research from New York-based digital asset firm Galaxy. So what exactly happened, how do cold wallets work and will those who lost money get it back? The Financial Post takes a closer look.
Naimul Karim | Financial Post