TagBitGrail

Defunct Bitcoin Exchange Wex (Formerly BTC-E) Chief Arrested in Italy: BBC

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BTC-E, Dmitri Vasilev , Wex

BBC Russia has it that former Wex Exchange (formerly BTC-E) operator Dmitry Vasilyev has been detained in Italy. Some may recall the curious price discrepancies on Wex not so long ago, which raised red flags across the industry. The Wex/BTC-e Connection The belief was that the exchange wanted to attract deposits to capture money for nothing. Once the deposits were made, it was believed...

Cryptocurrency Thefts and Scams Raked in 300% More Profit Last Year than 2017

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bitcoin sextortion scam crypto

Blockchain analytics firm CipherTrace released a report this morning showing that roughly $1.7 billion in cryptocurrency was stolen or scammed over the course of 2018. The amount stolen by hackers alone is staggering: over $950 million. The figure represents an increase of more than 300% from 2017. The scams noted in the report don’t even include individual user scams. Instead, they focus on...

Italian Bankruptcy Court Rules BitGrail CEO is Directly Liable for Millions in Customers' Losses

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NANO, Bitgrail

BitGrail, a cryptocurrency exchange that was recently the subject of a second class-action lawsuit, has found no relief in an Italian bankruptcy court. According to unverified documents published by a victims group, the Bankruptcy Division of the Court of Florence has ruled that Francesco “The Bomber” Firano is personally liable for losses incurred in the exchange’s early 2018 NANO hack. The...

Nano Cryptocurrency Facing Second Class-Action Lawsuit Over BitGrail Hack

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For the second time, Nano’s developers and other parties are facing a class action lawsuit. The lawsuit names Francesco Firano, Nano as an entity, BitGrail, and four others in a lawsuit proposed Friday in a California federal court. Among the allegations against them are fraud and violations of the Securities Act. The lawsuit alleges the defendants tricked investors. Nano was once worth more than...

Italian Court Seizes Crypto Exchange BitGrail’s Bitcoin Wallets

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bitgrail

An Italian court has seized bitcoin wallets belonging to shuttered cryptocurrency exchange BitGrail as part of the company’s bankruptcy proceedings. BitGrail disclosed that its assets had been seized in a statement dated June 15, explaining that it had turned over the bitcoin wallets on June 5 in response to an order from the Tribunal of Florence. From the statement: “On June 5, 2018, pursuant to...

Italian Court Rules Bankrupt Crypto Exchange BitGrail Must Stay Closed

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bitgrail

Italian cryptocurrency exchange BitGrail won’t be reopening anytime soon, despite its wishes to the contrary. Last Thursday, on May 17, the Court of Florence fully upheld a preliminary order barring the exchange -- which is currently undergoing bankruptcy proceedings -- from resuming operations and once again offering trading services to customers. The precautionary measure was originally...

Interview: NANO Lead Dev Talks Zero-Fee Transactions, $170 Million BitGrail Theft

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CCN spoke with NANO lead developer Colin LeMahieu right before a live-streamed Q&A carried out earlier today. LeMahieu told CCN that the presentation would be an introduction to NANO as well as himself, and said he was looking forward to it very much, saying "I’ll be highlighting what makes Nano unique and what our team envisions for Nano as we move into the future." While different...

'Hacked' Crypto Exchange BitGrail Shuts Down 3 Hours After Re-launch

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bitcoin exchange conflux vlad nistor arrest romania

Italian cryptocurrency exchange BitGrail has once again suspended operations after briefly re-opening most of its trading markets on Tuesday. The exchange, which has been immersed in controversy since 17 million Nano tokens (XRB) -- now worth approximately $140 million -- went missing in February, re-opened trading for all coins except XRB at 10:00 UTC. By 13:20, the platform had once again been...

The Bulls Are Back, Trump's Petro Ban Backfires and Karmic Justice: This Week in Crypto

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IOTA price

Make sure you check out last weeks post here, now let’s go over what happened in crypto this week.  Price Watch: Bitcoin is up 15% this week after a slight gain last week and a nearly 20% drop the week before. After stabilizing at $7,100 earlier this week, the price rocketed above $8,000 in a dramatic green candle. The price has hit a sell wall over the $8,00 mark, but analysts are optimistic...

"Rescue Fork": Class Action Complaint Lodged Against Nano Developers

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The lead plaintiff, who is also suing Texas-based Nano the company, wants the developers to create a "rescue fork" to recover funds that were lost in a hack. The lawsuit seeks damages and equitable relief from the USD 170 million in Nano's XRB token that was stolen in February in a hack on BitGrail, the Italy-based platform on which Nano recommended investors place their assets, according to the...

20% Gains: Nano Floats in a Sea of Crypto Red

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Nano is the only coin in the top 30 by market cap to have gained significantly on a day when most cryptocurrencies have fallen by high single-digits. At the time of writing, Nano (XRB) is up almost 20 percent to the US dollar and almost 25 percent against Bitcoin. At the time of writing, Nano is priced at $8.82. According to coinmarketcap, all top thirty coins have fallen except Nano, Populous...

Questions Mount Over $170 Million BitGrail ‘Hack’

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Questions continue to mount over $170 million worth of Nano (XRB) tokens that have gone missing from little-known cryptocurrency exchange BitGrail. As reported by CCN sister site Hacked, there is growing suspicion among Nano (formerly Raiblocks) community members that BitGrail, which is based out of Florence, Italy, was insolvent long before the alleged hack and hid the situation from traders and...

$170 Million: Cryptocurrency Exchange BitGrail Loses 17 million Nano (XRB)

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Stellar Lumens

BitGrail was the fifth most popular exchange for XRB trading according to Coinmarketcap, however the volume has now been amended to zero. With a market valuation today of $10 per XRB, the to, al loss is estimated to be $170m. The Nano Core team were informed by the owner of BitGrail, Francesco “The Bomber” Firano of the loss on Thursday. In a blog update they report that the fault appears to be...