CoinTracker to Raise $1.5M Via Seed Funding

The financing was led by Initialized Capital, which was also one of the earliest investors of Coinbase
11 April 2018   651

Several well-known venture capital funds and private investors provided financial support to the startup CoinTracker. In total, within the seeding round of financing, the company raised $ 1.5 million, according to CoinDesk.

The financing was led by Initialized Capital, which was also one of the earliest investors of Coinbase. The project was also supported by the Y Combinator and the founder of Protocol Labs and FileCoin, Juan Benet. Another well-known investor of the project was the creator of the Gmail mail service Paul Buchheit.

I think one of things that appeals to some of the folks that are in the round is that we're taking this not well understood and confusing and complicated space and just making it super easy so that anyone interested in the space could get involved.
 

Chandan Lodha

Co-founder, CoinTracker

 According to him, the idea of ​​creating CoinTracker was born after he and his former colleague on Google John Lerner began to feel more and more sad with the available opportunities to track their crypto-investment. As Lodha confessed, for lack of suitable programs, at first they even used ordinary Excel spreadsheets to which all transactions were manually entered.

That works fine for the first 10 trades or when you have a very simple transaction history, but, over time, you start doing more trades or start having more exchanges or more coins - it gets very out of control.
 

Chandan Lodha

Co-founder, CoinTracker

As a result, after a series of experiments, not all of which were successful, the CoinTracker team came in a simple interface that combines all the crypto assets and transaction history of the trader and is synchronized with exchanges and wallet.

Also, developers have added a feature that allows traders to keep tax records - the new tool parses all transactions, then uploads them to the already filled in form 8949 for the US Internal Revenue Service.

$60M Stolen From Zaif Exchange

As a result of the attack, which occurred as early as September 14, 4.5 billion yen owned by its users were stolen from the hot wallets of the exchang
20 September 2018   270

Hackers were able to steal almost $ 60 million in cryptocurrencies from the Japanese crypto-exchange Zaif, Cointelegraph reports.

As a result of the attack, which occurred as early as September 14, 4.5 billion yen owned by its users were stolen from the hot wallets of the exchange, as well as 2.2 billion yen, which was the company's assets. Thus, the total loss of Zaif amounted to 6.7 billion yen or about $ 59.7 million.

Tech Bureau Inc, which is the operator of Zaif, in a press release says that it found a server error on September 17, after which the input / output of funds on the exchange was suspended. September 18, the company realized that the error was caused by a hacker attack, and reported the incident to the Financial Services Agency of Japan. Hackers stole 5,966 bitcoins, as well as assets in Bitcoin Cash and MonaCoin.

According to Tech Bureau Inc, Fisco Digital Asset Group will help to partially compensate for the damage caused to users by providing 5 billion yen ($ 44.5 million). Tech Bureau agreed with Fisco to dismiss more than half of its directors and corporate auditors, and Fisco in turn will become its main shareholder.

Earlier this year, Zaif already recognized the existence of a "system malfunction", using which, the clients of the exchange were temporarily able to credit trillions of dollars in their accounts with bitcoins.