Forget traditional bank robberies, that's like the wild west... especially now that we have cryptocurrency exchanges that can be hacked and a huge $170 million can be stolen at today's lowered values.
This is what has happened to Italian cryptocurrency exchange BitGrail, with the company announcing on its website that it has lost $170 million to fraudulent transactions, and that they've approached authorities over the matter. BitGrail has since suspended all withdrawals and deposits "in order to conduct further verifications".
BitGrail has said that it won't be refunding 100% of what users' lost, with BitGrail founder Francesco "The Bomber" Firano saying that there's no 100% way to refund users. Firano took to Twitter, where he tweeted: "Unfortunately there is no way to give it back to you at 100% (we only got 4 MLN XRN right now)".
More Crypto News/Content:
Russian scientists busted mining crypto in NUCLEAR facility
6 x GPU packs now on sale for miners, GTX 1060s or GTX 1080s
NVIDIA says cryptocurrency demand 'exceeded expectations'
NVIDIA: 'we are 10x bigger than our GPU competitor'
GPU prices slightly better, GTX 1080 Ti is now 'only' $1100
Ledger owner? Your cryptocurrency can be easily STOLEN
$4 trillion wiped off stock market, tech stocks are HURTING
US credit card companies block cryptocurrency purchases
Samsung announces it's making cryptocurrency mining chips
NVIDIA Tesla V100: $8000 card is the BEST to mine Ethereum
Ripple (XRP) sets a new all-time record price of $3.17
Ethereum closes in on $1000, momentum isn't stopping
Ethereum reaches new record all-time high price of $870
Ripple (XRP) value blows up, bypasses Ethereum's market cap
Crypto expert kidnapped, had to pay $1 million BTC ransom
UnikoinGold is now available on Bittrex
Bitcoin could be worth $0, according to Morgan Stanley
Facebook Messenger malware mines Monero on users' PCs
Using 'blockchain' in new name, company shares rise 500%
MiningSky 8-GPU Mining Rig V1 Review
French dominatrix pimps clients out in 'Crypto Slave Farm'
North Korea hijacking cryptocurrency industry workers
Analyst: Bitcoin on its way to $400,000 - will happen soon
You can now mine cryptocurrency with your BODY