The obscure Italian coin exchange BitGrail appears to be the latest cryptocurrency cautionary tale. On Friday, the site posted a notice to users informing them that hackers had made off with 17 million units of Nano (XRB), the coin formerly known as RaiBlocks. While Nano was worth as little as 20 cents in late November, prices hovered around \(10 late last week, putting the BitGrail losses at \)170 million. Nano currently boasts a market capitalization of $1,287,013.
‘BitGrail has suspended all transactions while it investigates the incident,’ the site statement read. The competent authorities have submitted a charge about those fraudulent activities and now is under police investigation. All Nano XRB in BitGrail wallet has been stolen.
The dev team of NANO, on the other hand, wrote in a Medium post that they offered a controversial solution for his $170 million problem. ‘Unfortunately there is no way to give it back to you at 100% (we only got 4 MLN XRN right now)’, said BitGrail.
The BitGrail hack is the second major cryptocurrency hack this year. In January, Japanese exchange Coincheck reported that hackers made off with $530 million in virtual cash.
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