Home News Exchange BitGrail Exchange Hacked, Over $170 Million in Nano Allegedly Stolen

BitGrail Exchange Hacked, Over $170 Million in Nano Allegedly Stolen

February 12, 2018 16:32
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The past two months have not been particularly great for cryptocurrency exchanges. After Coincheck’s infamous hack last month, another exchange fell victim to hackers.

Popular cryptocurrency exchange BitGrail reported a loss of 17 million Nano, which was valued at almost $170 million at the time of the theft. However, some news reports are claiming that the exchange had been insolvent in the past few months.


With appropriate contriteness the press release said, “Bitgrail Srl communicates to its users that from internal verification checks of the adequacy of the withdrawal operations, unauthorized transactions have emerged that have led to a shortfall of n. 17 Mln of Nano ca forming part of the portfolios managed by Bitgrail Srl.”

“For the fraudulent activity referred to above, today’s regular complaint complaint was filed with the competent police authorities and police investigations are underway. It is hereby announced that the other currencies deposited have not been affected by unauthorized withdrawals.”

It added that in view to carry out more thorough investigation into the matter, on what happened, as a precautionary measure and to protect users, all operations, including withdrawals and deposits, would be temporarily suspended.

To make matters worse, an online free-for-all broke out between Francesco “The Bomber” Firano and the Twitter account of Nano currency. The latter published a statement on Medium saying, “We now have sufficient reason to believe that Firano has been misleading the Nano Core Team and the community regarding the solvency of the BitGrail exchange for a significant period of time.”

To which Firano promptly said, “After your libelous announcement against me yet false and misleading for the investigations, since you decided to share sensitive info without my acknowledgement, i invite you not to contact us anymore.” He added that they would be pressing charges “against you for your irresponsible behaviour.”

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A blockchain enthusiast, a wannabe-crypto investor and an all-around enthusiast! Loves travelling, especially to ASI-protected areas, believes in giving her best shot at everything she does! Definitely an introvert.


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