Home News Cryptocurrency Exchange’s $170 Million Nano Coin Loss Sparks Outrage

Cryptocurrency Exchange’s $170 Million Nano Coin Loss Sparks Outrage

0
SHARE

On Friday, February 9, 2018, Italian cryptocurrency exchange BitGrail announced that “internal checks revealed unauthorized transactions which led to a 17 million Nano [XRB] shortfall, an amount forming part of the wallet managed by BitGrail.” The shortfall when reported was allegedly worth $170 million and has presumably rendered BitGrail insolvent, despite the fact that the other wallets and currencies that the exchange has were purportedly untouched.

The 9:30 p.m. UTC announcement by the Florence-based exchange gives some cause for circumspection. The founder of the exchange, Francesco “The Bomber” Firano, fired off salvos on Twitter in defense of the loss. His defense rang hollow for BitGrail customers, however, as Firano had noted the problem a day prior but withheld disclosure to authorities, users and the public while trying to work through the issue with the Nano team.

Read More

Crypto Hunt provides the latest breaking news and videos straight from the digital currency industry. Join our 5k+ Facebook community today goo.gl/Yu3YYp
Ledger Nano S - The secure hardware wallet