Coinkite will continue the development of Bitcoin-related products. The Coinkite team stated on their blog that the company will drift apart from its software services to hardware products during the next few months. In the meantime, no new user sign-ups will be accepted and the Coinkite platform will not distribute any new API keys.
Coinkite stated legal issues and DDoS attacks as a few major factors behind their decision to terminate its web wallet services. The Coinkite platform has continuously been a victim of intense DDoS attacks since its launch in 2013 and as a centralized Bitcoin service, the company has consistently been targeted by government agencies and state actors.
The company has not released any explicit details regarding future hardware products and their focus of development. According to their official statement, the Coinkite team will most likely focus on the development of security and privacy-focused hardware products and merchant services such as POS terminals and cold storage alternatives.
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