Bitcoin, Crypto currency, Blockchain

Italian court decides: Bitgrail must permanently close

As a court in Florence ruled in the last week, must remain the crypto-Exchange Bitgrail finally closed. Insolvency proceedings have already been initiated, whereby the Exchange is probably not on the legs. Bitgrail had been hacked in February, and had tried in the beginning of may, in vain, to get again access to the market.

In early February it had come to the Italian Exchange Bitgrail to a Hack. The attackers were able to capture 17 million units of the crypto-currency a Nano – equivalent to you will get to a value of almost € 160 million. This was not only for the crypto-currency Nano – formerly RaiBlocks – and their users a serious blow, but also for the Exchange itself. Since Bitgrail is only a very small Exchange, was missing overnight, the largest part of the Nano-deposits on the Wallet of the Exchange.

The Nano-Foundation made in consequence of Bitgrail solely responsible for the Software error that had allowed the Hack. In addition, the Nano-supported the victims of the Hacks, who had lost their Coins with a Fund for Donations. Bitgrail not been left out in the rain, which improved the Situation for the Exchange.

At the beginning of may Bitgrail tried finally, the exchange for the trade with all the other crypto-currencies to re-open. After only a few hours, they had to close again – on the orders of the court of Florence. Reason, a suit of Bonelli law firm on behalf of approximately 3,000 users of the crypto-exchange. The closure was initially intended to be temporarily until the court had decided on further steps.

Bitgrail includes Nano makes more

This decision is now made. In the last week became known that the court has decided that the Exchange remains closed. The Exchange is since the Hack is insolvent and can no longer participate in the operational business. The people responsible are condemned to compensate the customer for the losses suffered. In addition, the court took the remaining Assets in the Exchange hardware. An insolvency procedure has already been initiated.

In contrast to the Exchange Bitgrail, which will open its doors again, came the cryptocurrency Nano relatively well from the history. Apart from the current rate case, which reflects the General market situation, the Coin in the last month is stable.

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