BitGrail Hack – Around $170M worth of cryptocurrency was allegedly stolen from an obscure Italian crypto exchange called BitGrail in 2018; it’s still unclear exactly how or by whom. Just weeks after Japanese crypto exchange Coincheck was hacked – an event dubbed “the biggest theft in the history of the world” at the time – the Italian crypto exchange BitGrail announced they were unable to account for millions of Nano (XNO), valued around $170M. Similar to the Coincheck hack, this incident involved BitGrail’s hot wallet allegedly being compromised. However, that’s where the similarities end. Coincheck was praised for taking full responsibility and returning 90% of stolen funds to affected users from their own capital just months after the attack, whereas it was nearly a year before the owner of BitGrail was ordered by Italian courts to face insolvency and attempt to repay what was lost by users of his exchange. The lesson we all learned was to do our due diligence when deciding on a crypto exchange to use. The BitGrail Hack Timeline February 08, 2018: BitGrail announces XRB markets are down (XRB is the former ticket of the NANO cryptocurrency, now XNO). No further information is provided. Source: https://twitter.com/BitGrail/status/961643213936300032?s=20&t=-l1G0Cv_bBWy7xzyhk-KnA...Read More