BitGrail Exchange Announce Bankruptcy After the Theft of $170 Million

The administration of the Italian crypto-exchange, BitGrail, has reported that as a result of the hacker attack, XRB tokens were stolen from its accounts for the equivalent of over $170 million. As a result of the loss of a critical amount of cash, the exchange announced its own bankruptcy. Upon the incident, an appeal was made to the police, therefore, its investigation is carried out by law enforcement agencies.

Only wallets with XRB were attacked, while the funds that were on the accounts of the site in other coins remained. The administration temporarily blocked the possibility of users depositing and withdrawing funds within the framework of the introduced security measures while there is no information on how the exchange will compensate losses to its users.

The Nano company said that the cause of theft of tokens could not be the presence of errors in the network protocols (this is what the administration of the exchange refers to). Moreover, Nano does not exclude the fact that funds disappeared from the site accounts much earlier, as a message about this fact appeared only on February 8th. This point of view is also supported by social network users. They accuse BitGrail of fraudulent activities and an attempt to hide the fact of a loss of a large amount of funds.

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