TagBitGrail

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

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

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

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

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

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

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

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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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...

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