There has been another huge hack in the cryptocurrency market. This time it was BitGrail, an Italian cryptocurrency exchange, that was hacked for over $170 million dollars worth of Nano(formerly known as Raiblocks).
BitGrail is an Italian cryptocurrency exchange that is definitely one of the smaller exchanges in terms of volume, but they had plenty of Nano coins in a wallet that they managed that is now said to be 17 million Nano short.
Nano(formerly Raiblocks) was only worth about 10 cents a piece just 4-5 months ago, but the price has recently exploded to the $10 a piece mark.
This is another huge hack in the crypto market, and I believe it is the third largest hack off all time when it comes to crypto. Only the 500+ million NEM hack and the Mt. Gox were worse in terms of U.S. Dollars, and this is another clear reason as to why you should keep all of your coins off of the exchanges and on your secure hardware wallet.
If you don't own a Ledger or Trezor hardware wallet, you should definitely consider buying one to secure your hard-earned coins and erc20 tokens.
No exchange is safe to store coins, and having them offline is the only way to ensure that you will not be the next big victim of hacking.
Both Kraken and Binance have gone offline for multiple days over the past month as well, and it looked like one of the major exchanges may have been hacked too. Luckily, neither were, but hopefully it scared many into buying hardware wallets to secure their coins.
To the moon,
looking into it, it seems like it was a bug exploit on the exchange that made withdraws go through even if you didn't have the balance
wow.....wonderful post @bwells . i like your posr to much. thanks for share the post.
Well the price exploded to 30 or so dollars and a lot of people were actually buying at those prices, but the price tanked once it was available on larger exchanges which is usually how these things go. Raiblocks did have one of the more interesting and fair ways of obtaining the coin in the beginning stages via its captcha faucet.
This news is quite unfortunate nothing is really save anymore.
OMG another one gone what is this happening around
You just shared a post regarding hack and see one more hack this is getting ridiculous
Huge set back one after the another in crypto world
that's a huge hacking attempt that has been made