Cryptocurrency Worth $170 Million Missing From BitGrail

Bitgrail Srl, an Italian cryptocurrency exchange, popularly known as BitGrail, has announced recently that its internal checks have found some unauthorized transactions which have led to the loss of 17M Nano, a form of cryptocurrency. The lost cryptocurrency worths over $170 million. BitGrail informs that the currencies other than Nano are not involved in this fraudulent attack. They have filed a complaint also about this unauthorized transaction which is under police investigation now.
For the meantime, until this loophole in the security is found and cured, BitGrail has stopped and suspended all the withdrawals and deposits as being an important step for consumers’ security. The firm has apologized for the inconvenience caused to its customers,
“In order to conduct further verifications, all the activities will be temporarily suspended (including withdrawals and deposits). This procedure is indispensable for users security. We do offer our full and sincerest apologies to our customers and to whom has been involved in the illegal transfers of Nano occurred on our platform.”
This is not the first hacking incident involving cryptocurrencies. In January end, Japanese cryptocurrency exchange, CoinCheck also faced the same kind of security breach that cost over $400 million.
Well, it looks like cryptocurrency markets are the new destination for cyberattackers as the popularity of these virtual currencies peaks.

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