The company, which is facing issues with its Coldcard wallet, sent security notices to customers to warn them about the high risk of losing their bitcoin. Nonetheless, Rodolfo Novak, co-founder and CEO of Coinkite, had assured that the company retained customer data for just 90 days after a purchase.
Key Takeaways
Coinkite emailed buyers dating back to 2019 to warn of a bug, sparking anger over data retention.Users slammed the firm for storing email data despite past claims of erasing buyer info after 90 days.Coinkite defended holding emails for account logins, but admitted it lacks a data deletion schedule.In an effort to reach the majority of customers who could be affected by the issue plaguing its Coldcard series of hardware wallets, the company sent emails to alert about the severity of this event to email addresses associated with purchases starting in 2019.
“It’s been challenging, but we have now emailed every address we could reach through our store and newsletter systems. The emails have been going out in batches since Friday. If you received one, we want to confirm that it is legitimately from Coinkite,” the company explained.
Even so, Rodolfo Novak, co-founder and CEO of Coinkite, stressed that the company doesn’t store customer information and had no way to reach affected customers, calling for assistance in contacting all possible affected users.
In an earlier post, Novak had claimed that the company provided the option to make anonymous purchases and erased customer data 90 days after.
According to Galaxy Research, the event had already reached 1,367 BTC at 5:36 p.m. EDT on Saturday, accounting for over $88 million in losses.
