Bitgrail lost 19 million XRB or $170 million worth of Nano. Here’s what you can do.

Bitgrail has recently announced that they are insolvent, losing an astoundingly large amount of their users’ funds. They lost 19 million Nano, equivalent to about $170 million USD  accounting for the recent dip in Nano’s price, and they have 4 million XRB according to their private chat with Nano founders. This means 14.26% of all Nano coins in existence were stolen; most likely the largest cryptocurrency-related hack since MtGox. Bitgrail owner, Francesco Firano, claims that only Nano was affected, although there are rumors that various other coins, including Ether, have been lost as well. The hack was reportedly a double-send type of exploit on the side of Bitgrail (not Nano). Here is their official announcement.

Bitgrail S.r.l. Informs its users that internal checks revealed unauthorized transactions which led to a 17 million Nano shortfall, an amount forming part of the wallet managed by Bitgrail S.r.l.ith

Today a charge about those fraudulent activities has been submitted to the competent authorities and now is under police investigation.

k We inform you that the other currencies have not been involved..

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 into the illegal transfers of Nano occurred on our platform.

Other announcements will be released shortly.

Thank you for your attention.

Quick Update: Here is some breaking information about the specifics regarding the hack that may be true. Image shown below, along with the rest of the original article. Please click on image to see full-size if it is too small.

bitgrail-hack-report
Latest information on the BG hack. -4chan.org

Many people are outraged. There are various things you can do about this. For one, a class action lawsuit. Many people on Reddit, primarily from /r/NanoCurrency, have been discussing the possible suit. Links are below. Some have already been in contact with lawyers. If you lost funds on Bitgrail and would like to take legal recourse, I’d advise you at least talk to some of the people who are already starting the lawsuit. The more people involved, the more likely it is to be successful; especially if you’re willing to contribute to legal fees, which may be necessary.

  1. Class action lawsuit against BitGrail
  2. BitGrail has violated their own terms of service.
  3. TheBomber and/or BitGrail contact information requested for pending lawsuit.

There is also a user on Reddit who will be involved in a lawsuit; he is collecting information about users’ losses and the issues they’ve had with Bitgrail. He claims the information will solely be used for future legal action.

If you currently reside in the UK, here is an incredibly important step to take. Submit a theft report to the Action Fraud agency. They are a cybercrime-related agency dedicated to reporting these types of crimes. We do not know if

Francesco Firano
Francesco Firano: MtGox 2.0

Italian authorities are working on this (do not trust Bitgrail), so if enough people bring this to their attention and they realize how much money was lost in terms of fiat, the UK may certainly pressure Italy to do something about this.

You can additionally report it to the FBI if you live in the US. If you live anywhere else, look for your country’s similar agency for cybercrimes reporting.

Here is what we know about who the owner of Bitgrail really is.

Images have popped up from 4chan claiming to be Francesco Firano. the owner of Bitgrail. I cannot confirm the validity of these photos; however, knowing what I know about 4chan, they likely are him.

He lives in Italy, which is where his business was obviously registered. We have his business registration info below, which is public.

  • WEBCOIN SOLUTIONS – P.IVA: 06513920485 (prior to January 8th)
  • BITGRAIL SRL – P.IVA 06791600486
  • Owners:
    • Francesco Firano (85%)
    • Andrea Davoli (15%)
  • Registered offices:
    • Via Pier Capponi, 89, 50132 Florence, Italy
  • Business number:
    • 656632

      rip-nano
      The man who stole your Nano
  • Tax code (VAT):
    • IT06791600486
  • Domain regisitrar
    • GoDaddy
  • Domain NS
    • Routed through CloudFlare
  • Recorded PEC email
  • Declared area of operation (ATECO code 62.09.09)
    • “Web site building, software and hardware services connected to IT services”.
  • Available and relevant WHOIS information from domain:

Registrant/Admin/Tech Organization: WEBCOIN SOLUTIONS – P.IVA: 06513920485
Registrant/Admin/Tech Street: Via Roma
Registrant/Admin/Tech City: Sign
Registrant/Admin/Tech State/Province: Florence
Registrant/Admin/Tech Postal Code: 50058
Registrant/Admin/Tech Country: IT
Name Server: GLEN.NS.CLOUDFLARE.COM
Name Server: ZOE.NS.CLOUDFLARE.COM

Francesco Firano’s private chat with Nano’s founders and developers

They have 4 million XRB and owe 19 million XRB to their users. He also lists various XRB addresses who are responsible for at least some of the stolen funds; the first one he mentions has stolen 1.7 million XRB.

nd the most amusing piece of information is his signature on Bitcoin Talk.

You either die a developer, or live long enough to see yourself become the scammer.
O muori da programmatore, o vivi tanto a lungo da diventare uno. –Source

Note: It is very important to know that this does not just affect

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