Bitgrail is not longer solvent - they claim that a hacker stole 17 Million XRB (worth $145 Million USD) from the exchange. There is an on-going debate as to when they were really hacked and if the nano team (Raiblocks, XRB) was negligent in their support for Bitgrail.
Ongoing Discussion: https://www.reddit.com/r/nanocurrency/
👍🏻Subscribe to my YouTube Channel: https://www.youtube.com/c/boxmining
👑Recommended Exchange - Binance: https://goo.gl/joe55C
🔒Hardware Wallet: https://www.ledgerwallet.com/r/428b
📲Mobile Wallet: https://enjinwallet.io/
💻PC / Mac Wallet : https://www.exodus.io/
●▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬●
Telegram groups:
Telegram Discussion Group: https://t.me/Boxdatamining
Telegram Announcements: https://t.me/boxminingChannel
●▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬●
♨️Social:
Telegram announcements: https://t.me/boxminingChannel
Community Forums: http://forums.boxmining.com
Steemit: https://steemit.com/@boxmining
Twitter: https://twitter.com/boxmining
Facebook: https://www.facebook.com/boxmining
●▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬●
💰Buy Bitcoin Through Coinbase: https://goo.gl/h1bw5v
Track ICOs graphically: https://icotracker.org
💪Donations:
Bitcoin : 13EvsPm3YhiCPGksQQdvQUFtsbF8FoU6Cz
Ethereum: 0x58d98516363D2A5f93CE6aB4A4a909599C3EEC3a
Website: http://boxmining.com
▶️ DTube
▶️ IPFS
None to blame.
The creator and owner of BitGrail has been very irresponsible. He won't accept any responsibility and won't collaborate with the Nano team. It seems to me personally that he has been trying to cover up his insolvency for much longer than when he first announced it.
Other exchanges have been more helpful in actively trying to track the funds than BitGrail themselves. Thankfully though, Francesco has recently said that he has a "recovery plan". I don't know how how much you can take that though. Hard to trust him.
The fact that "Bomber" of Bitgrail blames some purported flaw in XRB's protocol is telling. Especially when Kucoin and Binance don't see any problems. Can't accuse him of stealing the XRB - yet. But it's reasonable to conclude that he was incompetent when it came to the exchange's funds. May or may not be criminal. But I'd say he's liable should there be a civil suit.
"hacked" eh? That's what the MT Gox guy, Mark Kerpeles had claimed too. Both Kerpeles and Bomber are saying "Hey, it's those hackers' fault!" and not them. With both MT Gox and Bitgrail, I'd suspect an inside job.
Bitgrail's actions had been suspicious ever since withdrawals had been suspended. Hindsight is 20/20, true. But customers should have cut loss when they couldn't withdraw XRB - sell it for BTC and withdraw this to their wallet. Even if it's at a loss.
However, many didn't. I didn't have any XRB, nor do I have an account with Bitgrail. However, I did have some interest in XRB and had followed the group at Reddit during the period when Kucoin listed the coin. Apparently many people had held out and refused to sell because of the spread between the higher price at Kucoin (around $16) and Bitgrail ($12). They believed Bomber was trying to force a sale at the lower price, and that he'd pocket the difference. Then came the news about this alleged hack, and clients are left high and dry.
The lesson here: if we can't withdraw any coin or token to our own wallet, then don't buy it. If we already had, sell it for BTC, ETH or whatever and withdraw that. Leaving assets at exchanges - especially the smaller, unproven ones - is too risky.
very nice
Hi Really enjoy your work.
very good
@boxmining I personally "lost" 10 XRB on that, but that doesn't care much. I sat in the Train last Weekend and had enough time to read a couple of News about that, also the medium article from NANO Team.
I was pretty irritated about the BitGrail guy. In the Chat protocol he really drasticly asked to use "burned coins" for "resoring" the loss.
Two things about that:
So you guess my Position: BitGrail has a fault. Whether it was SCAM or a development Problem, no matter.
If you read all this, the BitGrail guy really asks "Can you manipulate your DB to revert the unauthorized Transactions".
He really did NOT understand what an Blockchain is, what immutability is. That does sounds like an expert in this area.
Also the whole Chat sounds like the Team (if any) around BitGrail is really small. I don't know if you can serve a stable and secure centralized Exchange with just a couple (or a single) Person.
So for me, BitGrail has Trouble.
But one Point I Need to confirm with him: The NANO Protocoll store any helpfull Information. No Timestamp of TX and no "Message" (that would be usefull to not create one wallet for one Transaction to identify the reason for that TX).
So analysing this Piece of Problem will be really hard, as BitGrail cant really on the own Nodes and have to use the official Explorer.
But this official Explorer is centralized. And for storing Timestamps, an DB is used (no Blockchain) and this DB could be manipulated. So if we try to expect that NANO is a SCAM (I hope not so), that could be a way how they could hide their Problems...