When Bitcoin Exchange Boss Steal User Assets

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Regarding the hacking of the Bitcoin exchange, namely BitGrail, in 2018, the Italian police accused the founder of responsibility.

When the hack took place, the founder and founder of BitGrail, namely FF, himself reported it to the police. BitGrail claims the hack left the company bankrupt.

At that time, BitGrail said there was a hack, so that the Nano crypto asset worth 120 million euros disappeared.

In the ongoing legal process, in 2019 the company was required to compensate for the user's funds, due to suspected negligence.

However, yesterday the police even accused FF of being responsible for the hack, because he was thought to know the vulnerability of the system but let it be.

Until mid-2019, BitGrail was the only exchange that offered Nano crypto asset trading pairs. At that time, the exchange was deemed to have played an important role in most of Nano's trading.

Ivano Gabrielli, director of the National Center for cyber crime (CNAIPIC), told Reuters that after starting to investigate, it was clear that BitGrail bosses were involved.

"It is not clear whether he participated actively in the theft or if he just decided not to step up security measures after finding him," he said.

Police said it would be easy to prevent theft as soon as the first hack was seen, but instead, “FF deliberately failed to prevent it”, thus allowing Nano's crypto assets to be drained from the account.

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