Pexels.com
Main page News, Italy, Exchange, Cryptocurrency Exchanges, Hacker Attack, Regulations

Italian police accused BitGrail's founder Franscesco Firano of an alleged series of attacks on his own cryptocurrency platform, as a result of which the company lost €120 million and went bankrupt, iHodl Russia repots.

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

As a result of the attack, over 230,000 people became victims of the theft of the Nano (NANO) cryptocurrency. The police say this "the biggest cyber-financial attack in Italy" and "one of the biggest in the world."

"For the first time in Italy and in Europe, we have documented fraudulent and rapacious conduct to the detriment of investors carried out entirely on IT platforms and via the use of virtual currencies," the police added.

Firano is accused not only of computer fraud, but also fictitious bankruptcy and money laundering.

BitGrail was hacked back in February 2018 when approximately 17 million NANO tokens were stolen. Nano representatives argued that users lost money through the fault of the exchange, and not because of the vulnerability of their protocol.

Class Action Lawsuit Brought Against Nano and its Team

In April 2018, the Nano Foundation even announced the creation of a fund so that all victims of the BitGrail exchange hack could have an equal opportunity to defend their interests in court.

Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.

Read also:
Strawberry Cake Media Corp. © 2024 Cookie Policy Editorial team Archive

ihodl.com is an illustrated edition about cryptocurrencies and financial markets.
Every day we publish the best materials for everyone interested in economy.