BitGrail Cryptocurrency exchange has been hacked $160+ million stolen in Nano

BitGrail Cryptocurrency exchange has been hacked $160+ million stolen in Nano

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.

The Italian cryptocurrency exchange BitGrail announced late last week that it was hacked and lost about 17 million Nano cryptocurrency (XRB, formerly known as RaiBlocks), currently worth over $160 million.

A statement on the BitGrail website announced that the company did a security check that discovered unauthorized transactions resulting in a shortfall of 17 million Nano.

The owner of BitGrail exchange stated on Twitter that the exchange can’t refund all customers, as it’s currently in ownership of only 4 million Nano, estimated at around $40 million.

On Reddit, one user reports losing $1.4 million in the hack. “Before Kucoin was added as an exchange, I played around day trading on bitgrail to see if I could gain some more Nano,” the user writes, providing a link to their Nano wallet as proof.

They explained that they had been trying to withdraw their Nano from BitGrail for a month (presumably after the price spiked in December or January) but were restricted by a 10 Bitcoin per day cap on withdrawals. They noted that over time,that limit was lowered to something closer to 1 Bitcoin per day in withdrawals and

BitGrail stopped responding to their support tickets.

“NANO on BitGrail have been stolen.

Unfortunately there is no way to give it back to you at 100% (we only got 4 MLN XRN right now).
The devs, as you have guessed, dont want to collaborate”

Only Nano cryptocurrency has been stolen in the hack. The funds withdrew from the wallet of BitGrail, where it is usually stored after customers deposit Nano in their BitGrail accounts.

Nano cryptocurrency is currently in the top 30 most valuable cryptocurrency basedon market cap (23rd) and is exchanging at $10 per unit.