• Advertise
  • Submit a Press Release
  • About Us
NewsBTC
Bitcoin & cryptocurrency news
Sensei Inu Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Win 8.88 BTCTry
  • Play Casino GamesTry
  • Play FinanceTry
No Result
View All Result
Breaking News: BREAKING: Valkyrie Secures Green Light For Ethereum Futures ETF, Trading Launching Tomorrow
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Win 8.88 BTCTry
  • Play Casino GamesTry
  • Play FinanceTry
No Result
View All Result
Bitcoin News
No Result
View All Result
Breaking News: BREAKING: Valkyrie Secures Green Light For Ethereum Futures ETF, Trading Launching Tomorrow
Bitgrail
Sensei Inu Logo

Bitgrail Exchange Claims $195M Hack in Face of Serious Skepticism

newsbtc by newsbtc
6 years ago
in Uncategorized
Reading Time: 2 mins read

A relatively obscure Italian cryptocurrency exchange is claiming a major hack involving Nano tokens but critics are calling it an exit scam.

Another multi-million dollar hack?

Bitgrail claims it was hacked last week of 17 million customers owned Nano Tokens equal on the day to about $195 Million dollars. Bitgrail was one of the main portals for trading the Nano token, previously known as RaiBlocks.

The claim made by founder Francesco Firano has been met with serious skepticism though created in part by suspicious moves made by Bitgrail itself. In January the exchange put a halt to all withdrawals and deposits of Nano, Lisk, and Crytpoforecast tokens. Then they announced identity verification and anti-money laundering protocols and the possibility of blocking non-European users.

These moves generated rumors that the site was setting up what some call an exit scam causing the price of the Nano to drop by 20%. In the wake of the alleged hack, Firano asked the developers of the Nano token to ‘fork’ their records. That is to change the transaction records in order to restore the lost tokens.

The Nano team immediately took to social media to quash the suggestion that the loss was due in any part to their tech.

“…Firano informed us of missing funds from BitGrail’s wallet. An option suggested by Firano was to modify the ledger in order to cover his losses — which is not possible, nor is it a direction we would ever pursue,”

Followed shortly by this tweet;

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.

Hack, scam or bug?

The implication was that Bitgrail had mismanaged customer funds and was claiming they had been hacked in order to cover up their mistakes.

Since the initial announcement Firan who tweets @bomberfrancy has continued to put the blame on the Nano developers and claims that he has had several death threats made against him by irate customers who are left holding the bag.

The latest word though is that there was a withdrawal bug that was crediting customers with a double balance allowing thefts to diminish the wallet over months. Traders took to the Twitterverse to connect the bug with the exist scam theory, some saying that bugs like that would most likely be recognized and exploited by someone on the inside.

“Whoa, if true, this is mind boggling. It’s the equivalent of “you have access to the entire working capital of our bank. please check your own balance and don’t draw more than you should.”

Tweeted Cornel Professor Emin Gun Siren.

Tags: BitgrailBitgrail hackExit ScamNanoRaiBlocks
Tweet123Share196ShareSend
newsbtc

newsbtc

Related Posts

Bitcoin Cash

Bitcoin Cash Bulls Charge: 13% Price Rally Driven By Fresh Demand

2 hours ago
Ether Futures

FTX Exploiter Transfers 5,000 ETH Ahead Of Ether Futures ETF Launch

16 hours ago
XRP

Crypto CEO Very Bullish On XRP Price, Sets Make Or Break Point

17 hours ago
Ethereum ETF

Ethereum ETF: Valkyrie Halts Purchase Of ETH Futures Contracts

19 hours ago
Cardano

The Most Impressive Highlights From The Cardano Development Report

20 hours ago
Meme coin

Crypto Analyst Reveals Which Meme Coin Will Topple Dogecoin In The Bull Market

22 hours ago

Premium Partners

Play Finance

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
mBit

mBit

Review · Visit

Press Releases

  • Investing in Trading 212: Is the Risk Worth the Reward?

    23 hours ago
  • Bitcoin Spark: Cross-Chain with Polygon, BSC, and Cosmos

    2 days ago
  • Explosive Surge: Curve DAO and Everlodge on a Wild Pumping...

    2 days ago
  • The DeFi Big Three: Solana (SOL), Chainlink (LINK), and...

    2 days ago
  • Plus 500 Reviews Get Moderate Risk Rating From Trading...

    2 days ago

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2023 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play Games
  • Win 8.88 BTC
  • Play Casino Games
  • Play Finance

© 2023 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.