The famous cryptocurrency exchange, BitGrail, is starting a new chapter with an Italian court. This time, BitGrail’s bitcoin and crypto wallets have been seized waiting for further court decisions.
BitGrail Wallets Seized
BitGrail, which has been involved in a hack at the beginning of the year, is informing its users that all the Bitcoins contained in the company’s wallets have been seized. The information has been released on June the 15th on its website.
The message uploaded reads as follows:
“On June 5, 2018, pursuant to the Tribunal of Florence orders, the Bitcoins contained in the company’s wallets were seized and brought under control of the judicial authorities pending further Court decisions in the pre bankruptcy proceeding.”
Back in February, the exchange suffered an attack that hardly affected the company. The stealers were able to move away 17 million NANO (former XRB) that were valued around $195 million dollars at that time.
Since that moment, the platform has been involved in discussions with the NANO community accusing them of the problems with the cryptocurrency and with the local authorities trying to solve the problems related to the hack. Moreover, some individuals pointed out at the owners of the exchange for the lack of seriousness in which they treated the topic.
About this situation, the Nano Foundation explained in April:
“To date, all reliable evidence we have reviewed continues to point to a bug in BitGrail’s exchange software as the reason for the loss of funds.”
In May, the exchange tried to start operating again. The site was just available for some hours and later it was forced to shut down its operations.
At the moment, the exchange is moving through bankruptcy so as to recover a portion of the assets lost which will be used to pay customers. The exchange authorities blame the community for not allowing them start trading activities again and be able to pay the money lost.