Bitgrail lost $170 million
Crypto-currencies exchange Bitgrail, specialized in trading of Nano (previously Railblocks), paused all operations after the loss of 17 million XRB, which equals approximately $170 million. The company stopped input and output of XRP 2 weeks ago, and clients expected the worse. Users suspect that the fraud operation was carried out by Bitgrail owner, so-called Francesco The Bomber.
Nano is notable due to its rapid growth: in a month the price rose from $0,2 up to $35, meaning — 17,500%. Throughout the year Bitgrail had the monopoly on XRB trading until in December 2017 the price bobbed up.
Possibly, the stolen XRB had been transferred to Mercatox within a couple of months. Some also believe that the company became insolvent after an output mistake. Whatever the reasons are, Nano ceased collaboration with Bitgrail, and users have no chance to get their money back. The drowning boat was picked up by Binance that is willing to support and protect the unfortunate users.
Experts predict multiple large hacks and money vanishing take place in 2018.