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Another cryptocurrency hack attack on an exchange

The community has just been hit by another cryptocurrency hack attack. Italian cryptocurrency exchange BitGail reported on Friday that they are missing $170 Million worth of tokens.

Following the huge loss experienced by CoinCheck a few weeks ago, BitGail an Italian cryptocurrency exchange reported on Friday the loss of $170 million worth of Nano tokens.

On the website of the company, it reads “internal checks revealed unauthorized transactions which led to a 17 million Nano shortfall, an amount forming part of the wallet managed by BitGrail.” The company however also states on its website that it doesn’t believe any other tokens are affected.

The company didn’t say exactly when this hack occurred, but they have informed authorities of the hack and are also halting transactions for now. No further statement into the hack has been released by the company but for a few tweets supposedly from an employee of the company.

What are your thoughts on this new cryptocurrency hack attack? Do you think these attacks can be avoided?

Let us know your thoughts below.



    February 11, 2018

    excellent publish, very informative. I’m wondering why the other
    specialists of this sector don’t notice this. You
    must continue your writing. I’m sure, you’ve a huge readers’ base already!

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