{"id":4554,"date":"2018-02-12T14:27:40","date_gmt":"2018-02-12T14:27:40","guid":{"rendered":"https:\/\/www.legitgambling.com\/news\/?p=4554"},"modified":"2018-02-12T14:30:25","modified_gmt":"2018-02-12T14:30:25","slug":"crypto-exchange-bitgrail-struggling-to-refund-lost-170m-in-nano-tokens","status":"publish","type":"post","link":"https:\/\/www.legitgambling.com\/news\/crypto-exchange-bitgrail-struggling-to-refund-lost-170m-in-nano-tokens\/","title":{"rendered":"Crypto Exchange BitGrail Struggling To Refund Lost Nano Tokens"},"content":{"rendered":"

\"\"Italian BitGrail<\/a> is the second cryptocurrency exchange to fold into the hands of hackers this year, losing $170 million worth of Nano tokens<\/strong>. The bad news for investors is that BitGrail may not be able to refund all the lost digital currency.<\/p>\n

BitGrail released a statement late last week confirming that internal checks revealed fraudulent transactions that have led to the loss of $17 million in Nano tokens which was formerly called RaiBlocks<\/a>. The company released a statement and clarified that other digital currencies on the exchange were not affected by the hacking but as part of their security measures, all transactions including withdrawals and deposits remain temporarily suspended.<\/p>\n

The announcement of the lost Nano tokens came days after BitGrail owner Francesco Firano<\/strong> announced via Reddit<\/a> that the Know Your Customer (KYC) policy will be implemented in the exchange. Additionally all investors and users in the exchange were only allowed to withdraw their assets in Bitcoin<\/a>.<\/p>\n

The new policy caused a backlash against the exchange, with some users already planning a class action lawsuit to combat the policy changes calling it an exit scam. The new withdrawal limit and verification policy also left many people sceptical since many users are still awaiting verifications since December, despite the promise that verifications will only take 24 hours.<\/p>\n

Boxmining<\/strong><\/p>\n

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