From their site:
Please withdraw all coins before the 1st of May 2016.
It is with great regret that we announce the closure of CoinWallet.co.
Our decision to close is based on several factors. Primarily, on the 6th of April we suffered a data breach.
Despite our best efforts there was a small error in a part of our code that should have checked and sanitized user input on a recently added function. Checks were in place but the check was then subsequently not used to block the database call.
Our backup security system kicked in as it was designed to and no coins were lost. We have since patched the vulnerability but are still trying to determine the extent of the breach. However it would be advised to change passwords on any other crypto related websites where you use the same password and username as coinwallet.co. We used encrypted and salted passwords but given enough time these should be assumed compromised.
Effective immediately, we have reset all passwords, deleted all API keys, and halted the twitter Tip Bot.
This incident prompted us to reassess the viability of running coinwallet.co and it was decided it is just not viable taking into consideration the risk, costs and time involved.
As mentioned above all coins are safe and available for immediate withdrawal. Given the large number of transactions that will occur over the next few days and weeks, we expect there may be some delays in processing some transactions. Please be patient and rest assured we will process all transactions as quickly as possible and make sure all outstanding transactions are processed before we close.
Again, the decision to close was not taken lightly, especially given we had several large updates in the works and plenty of plans for the future.
We hope you enjoyed using coinwallet.co.
If anyone has the time to devote and is interested in taking over CoinWallet.co you can contact us at:
[email protected] 
