Bitgrail Just Lost All 17 Million NANO (Raiblocks) Coins In Their SystemsteemCreated with Sketch.

in bitgrail •  2 years ago  (edited)

This is it. 17 million NANO coins, or about $170 million. Gone. Poof.

Bitgrail Releases Statement Admitting To System Failure

A few weeks ago, Bitgrail caused widespread FUD across the NANO as well as the crypto community with an announcement that they will be blocking all Raiblocks withdrawals for non-EU citizens.

Two hours ago, at 21:30 UTC, Feb. 9, Bitgrail released a statement on its official website admitting to its service failure, which led to the disappearance of 17 million NANO coins.

To put this into perspective, 17 million NANO coins is 12.8% of all existing NANO coins out there. In other words, 1 in every 8 NANO coins went missing in the Bitgrail fiasco.

Reddit Explodes With Rage

Across the /r/nanocurrency subreddit, NANO investors were livid with fury.

"Fuk Bitgrail, I bet he (Bomber) stole the Nano himself..." a user commented, bitterly.

"You either die a programmer or become a scammer," said another user, wistfully.

I am lucky that I withdrew all my NANO from Bitgrail just days before this whole thing went down. To all my fallen comrades: condolences.



If this blog post has entertained or benefitted you in one way or another, please follow, upvote, resteem, reply and/or consider buying me a cup of tea.

BTC Wallet - 1B4xDRBYBb8UiFjo6zetXVNegtCUU2af2y

ETH Wallet - 0x84c53fD4CF07C2c183878C7d3261E903cb274765

NANO Wallet - xrb_3nt5ffyhbhgxkjz4aq5nucfnhiuzymr3x96ds3btb1abjyywceyztiucd7r6

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

Remember MtGow! The platform was closed. The loss had been payed by all customers of the platform! Till today we are waiting for the little rest of our money :-(

Better was BitFinex. All customers of platform had to pay for the loss. The platform still exists. They learned a lot and implemented a lot of security features.

Good luck for the responsible guys.

Mt Gox was messed up. Bitgrail might not be as bad in terms of losses but it still sucks. I feel like this might not be a hack though - Bomber probably has something to do with it

Letˋs wait for results of the investigation!

For me this unprofessionally is unbelievable, that these guys don‘t install an alarming system to prevent such big transfers which happened on Nano. They operate such big amounts of cryptos like beginners. Thatˋs the real crime!

Ditto. A decentralized crypto could succeed in a few months - all good.
A dot com exchange should never grow that quickly. The only thing that gives an on line centralized exchange trustworthiness is the time that they have been in business without a hack. But even exchanges with 6 years under their belt are only due to be hacked.

I am out of them all. Only bitshares and only less than 1% of my holdings.

Indeed. They really have to keep their system in check or at least upgrade it from time to time!

Thank you for resteeming my post btw! I followed you - would love if we could connect on Steemit and support each other on this journey!

I am also one of those. I got out of MtGox, Stamp, and Finex weeks before those hacks. This is all very sad. People that I encouraged to mine, Steemit, and Dash are now talking about losses.

They forgot the foundations of cyrpto investing that I gave them before any other info "Never put all your eggs in one basket" - "Never put more than you are willing to burn on a whatever.com site" - "Keep control of your keys" and "stay diversified"

A good friend just lost all. I asked, "well you still have your steem, don't you?" - No I looked and his account had been powered down - by him - to go all in on bitgrail.

I asked, "well you still have all that Eth you mined with your rigs, plus all the Eth you bought from me right?" No - he cashed that all into bitgrail too.

We should smile when something goes 5 times its worth. But take out your original investment and play with what's left - don't put more in.

So this was what I saw on twitter this morning. I saw tweets about bitgrail few days ago.

Yeah...they tried to cover up by saying it's a KYC issue but I guess they can only hide the truth for so long.

When these people trying to make up a reason that's when you know you should get out from that exchange.

Exactly! Red flags everywhere ugh...I told my friend to withdraw his XRB from Bitgrail two weeks ago when I was making a Nanowallet but he was like "nah bro chill" now I feel so bad for him

I think you can instantly sent XRB right? It's one of the fastest transaction alt coins I heard.

Did he lost all his XRB?

Yes you can - that's what I did, I withdrew all my XRB from Bitgrail two weeks ago and it took me seconds.

Yeah he did.

Shit, that's bad. Bad luck I guess.

That's why exchanges are the least secure place for your coins unfortunately.

I agree. Gonna keep my stash in offline wallets for now.

Coins mentioned in post:

CoinPrice (USD)📈 24h📉 7d
BTCBitcoin9109.430$13.56%5.2%
ETHEthereum915.557$13.67%0.83%
STEEMSteem4.951$20.75%23.92%
XRBNano10.518$-3.62%-33.29%