Bitcoin, Crypto currency, Blockchain

BitGrail Nano-Hack: Affected users are compensated

c8be43d6723fc245fb37436819cf90ae - BitGrail Nano-Hack: Affected users are compensated

In terms of the re-opening of the crypto-currency exchange Bitgrail.com became known that BitGrail would like to compensate the victims of the NANO-Hacks. The stock exchange has developed a new Token called BitGrail Shares, will be credited to the injured party users and in the next few months bought.

The Italian crypto-currency exchange BitGrail had to on 9. February 2018, reported that hackers have managed to steal a total of more than 17 million Nano Token of the exchange.

After the Hack, a discussion between Bitgrail and the Nano development team is kindled, who is the Hack responsible. A Medium Blog Post, the Nano Team was informed that BitGrail and CEO Firano deported to the insolvency of the stock exchange and the users of the exchange with respect to the ability to pay would have led astray.

In addition, the Bitgrail Team have already discovered in October 2017, a bug that allowed users more tokens off of it than you actually thought. But it was only in February of this year, the Bug of BitGrail to the Nano has been reported to development team.

In contrast, Firano refers to an error in the NANO Code. In the now published on the website message BitGrail reaffirms that it is the victim of a theft that was caused by a bug in the Software of the NANO. BitGrail is therefore self is not responsible for the damage of the user. BitGrail had, moreover, supplied all the information to enable the competent judicial authorities with a reconstruction of the incident and to show the error in the NANO Software.

Due to its damaged, users have to view BitGrail not entitled to a refund of the NANO-amounts to Bitgrail. Nevertheless, the company have created a Plan to compensate customers on a voluntary basis.

The stock exchange has developed a new Token called BGS (BitGrail Shares), will be distributed among the aggrieved users. BitGrail has the credit of each affected user account is updated so that the account 20,3466% in NANO, and the remaining part 79,6534% in BGS appear.

The possession of the BitGrail Shares will be overwritten by the user, however, only if an agreement is assigned agrees that any claims due to theft, compared to BitGrail. As a user, you must therefore explicitly to any kind of law, and any and all further claims against the exchange without.

A BitGrail Shares Token thus represents one of the 15.663.624,15064883 stolen NANO (formerly Raiblocks). The new BitGrail Shares will be publicly traded, but initially non-withdrawable. On the first day of each month BitGrail 50% of the proceeds will be use of the trading fees from the previous month, the BGS-Token to buy to the users proportionally. The buyback is to be carried out at a fixed price of 10.50 USD per unit (paid in Bitcoin).

According to the notification of the stock exchange is scheduled to open for users around the world as soon as possible. It is doubtful from our point of view only, how fast and in what amount BitGrail after the great loss of trust towards its customers, greater revenue can be achieved to buy, the 15 million NANO at a price of 10.50 USD.

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