An Italian court has banned to resume operating activities cryptocurrency exchanges BitGrail. Bankruptcy procedure continues, but the story of the trading platform, it seems, is already finished. It is reported by the Finance Magnates.
Italian stock exchange BitGrail was ruled by a man named Francesco Pirano, also known as The Bomber. In the case of the site at some point went very well, although problems with the limitations on withdrawals became concerned about the customers even before the break-in.
One of the coins in the exchange listing was Nano (XRB), the value of which today is about $of 4.67, with a market capitalization of $622 million BitGrail was hacked in February of this year, the result of which was stolen 17 million XRB (about $195 million at the time). Other coins were left untouched.
Team Nano and Hirano accused each other of theft, which led to several lawsuits. In Nano argued that BitGrail kept XRB in my purse (separate from other coins), which was vulnerable. Hirano said that the Nano network was a bug, and if Nano held hardwork, the money could be recovered. Team Nano did not agree and said that to compensate for the costs of affected customers. Action Pirano in this situation angered customers of the platform so that he began to receive death threats. The investors claimed in court hard forks to recover their money that could create an interesting precedent.
Eventually Hirano proposed repayment scheme through the newly opened BitGrail. He did not admit his guilt despite evidence that his misguidance caused and exacerbated vulnerabilities in the security system of the marketplace.
After that, the group of affected customers filed the petition that BitGrail have to declare bankruptcy. In early March Hirano tried to resume the work of the stock exchange (despite the fact that 79% of respondents on Twitter said they prefer the option of bankruptcy), but within three hours the site was closed again by the court in response to the request of legal company representing 3,000 customers.
Finally, last week the court confiscated the remaining assets of the company that will be managed by the special administrator.