Italian crypto exchange BitGrail has lost $170 million

$170 million stolen from Italian cryptocurrency exchange BitGrail.

@anthony256
Published Sat, Feb 10 2018 8:36 PM CST   |   Updated Sat, Aug 8 2020 10:29 AM CDT

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.

Italian crypto exchange BitGrail has lost $170 million | TweakTown.com

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)".

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NEWS SOURCE:engadget.com

Anthony is a long time PC enthusiast with a passion of hate for games built around consoles. FPS gaming since the pre-Quake days, where you were insulted if you used a mouse to aim, he has been addicted to gaming and hardware ever since. Working in IT retail for 10 years gave him great experience with custom-built PCs. His addiction to GPU tech is unwavering.

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