What happened
BitGrail reported approximately 17 million Nano missing in February 2018, then worth roughly $170 million. Nano's team said the exchange owner informed it of a wallet loss on February 8. Its preliminary investigation found no ledger double spending and pointed to BitGrail software, but did not establish a detailed exploit mechanism.
The reviewed primary statement offers a preliminary assessment, not a proven root cause: Nano's team pointed to exchange software and reported no evidence of ledger double spending. It does not substantiate claims of a specific client-side balance-check bug or a Nano protocol vulnerability.
How it happened
- BitGrail's owner notified the Nano team that funds were missing from the exchange wallet.
- Nano's team investigated and said it found no double spending on the ledger. It considered BitGrail software the apparent source of the problem.
- Nano's team contacted law enforcement and said it was preparing blockchain records and other evidence for investigators. The statement did not disclose a reproducible withdrawal exploit or establish who caused the loss.
Protocol details
Evidence
- report Report reuters.com
- report Report coindesk.com
- report Report coingeek.com
- analysis DeFiLlama defillama.com
- analysis Italian cryptocurrency exchange gets hacked for $170 million in Nano techcrunch.com
- analysis Italian police accuse cryptocurrency exchange boss of huge fraud marketscreener.com
- analysis Alec Otto v. Nano complaint courthousenews.com
- analysis Official Statement Regarding BitGrail Insolvency blog.nano.org
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