CoolBitX and Mt. Gox
CoolBitX launched in early 2014, ready to change the world. A week later, hackers turned it on its head, stealing over 450 million USD from Mt. Gox, the most popular crypto exchange. This proved that connected or “hot” wallets would always be at risk.
USB hardware wallets too were vulnerable, as they could be opened and modified.
An alternative was needed. By late 2014, more people accessed the Internet by phone than computer. The world was mobile-first now. Our decision was easy.
We wanted to build an easy-to-use cold wallet which fit in your pocket, couldn’t be opened and connected safely to your phone.
Our family business had already perfected highly secure smart cards. I knew we could do the same for a blockchain hardware wallet.
IndieGoGo and the first CoolWallet
We went into lockdown mode until our prototype was ready. Over 180 supporters backe
d our Indiegogo campaign.
Finally, the CoolWallet shipped. We thought we’d made it. Yet, soon problems and support tickets mounted. Our customers wanted and needed more options.
We iterated, improved and raised a $500,000 seed round to begin working on the CoolWallet’s next incarnation. A mobile cold wallet that could store more coins and work better in every aspect.
In August 2017, the crypto market, lead by a rampant Bitcoin, started roaring loud enough for the world to take note. This time we were ready.
We started work on the CoolWallet S.
By now, both our team and first wallet were battle-tested. We knew exactly what our customers needed for the CoolWallet’s next iteration, because they told us.
Our engineers and developers leveraged all of our experience collectively in order to make the world’s best mobile cold wallet.
By early 2018, the CoolWallet S was a reality. And ready to ship.
It didn’t take long for the crypto community and investors to notice.
Interest started trickling in, then pouring in. Institutional investment finally followed.
In May 2018, SBI Holdings (previously Soft Bank) secured our future with with a multi-million
dollar Series A strategic investment.
I often marvel at how far we’ve come in 5 years. Today, we’ve shipped 150,000+ CoolWallets worldwide. Our humble little team is expanding each month.
Our first CoolWallet made my initial dream a reality: To build the world’s first secure mobile hardware wallet for digital assets.
The CoolWallet S then made it the best.