Crypto Exchange Bitgrail Founder Accused by Italian Police of Faking Hacks Th...
Italian police accused a man who ran a cryptocurrency exchange of being responsible for a series of hacks that caused millions in losses as part of an alleged massive fraud scheme. Italian Authorities Accuse Bitgrail Owner of Faking Hacks That Led Exchange’s Bankruptcy According to Reuters, the 34-year-old from Florence known by his initials F.F. and owner of Bitgrail, a crypto company that was declared bankrupt in 2019, is suspected of having faked a cyberattack that defrauded over 230,000 people which held nano coin, a crypto launched in 2015. The series of alleged fake hacks....
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Bitgrail’s founder, Francesco Firano, is accused of fraud related to the massive hack back in 2018. Italian authorities have found Bitgrail’s founder responsible for fraudulent activity related to the 2018 hack of the platform that resulte in the loss of $150 million.Francesco Firano, the sole director of now-defunct cryptocurrency exchange Bitgrail, is accused of taking over customer funds prior to reporting the theft of crypto from the exchange.According to a Dec. 21 announcement by the Postal and Communications Police — a cybercrime unit of the State Police of Italy — Firano kept the....
The ongoing Nano saga has taken another twist with a token holder dropping his case. An ongoing lawsuit involving crypto project Nano has taken another turn this week when the developers sought a sanction after the plaintiff dropped the case.The Nano team is after $701,000 in attorney fees and costs as a sanction after a token buyer dropped his proposed class action. On July 27, its legal team told a California federal court that some of the claims against them had been “legally baseless”, according to Law360.Token buyer Alec Otto had accused the Nano developers of fraud, violating....
The Spanish police detained four people of different nationalities this week for allegedly running a $15 million crypto Ponzi scheme. According to the police, “many victims” filed a complaint against them. Victims Believed Their Bitcoins Went to a Legit Company According to Policia Nacional, the four accused are Argentine, Spanish, and Italian nationals aged between 23 and 36. They persuaded the victims to transfer their bitcoin (BTC) to them by promising high returns. The authorities say that around 380 BTC were scammed by the alleged fraudsters, which amount to approximately....
American rapper Sam Benson, better known for his stage name Blac Youngsta was detained by the police in Atlanta, Georgia, for withdrawing US$200,000 in cash. Over the past few years, an increasing number of cash-related arrests have been reported worldwide. Popular rapper Snoop Dogg for example, was stopped by the Italian Police in August of 2015, for holding US$422,000 in cash. “They come bum rushing me at the car, put me on the ground, putting guns to my head, so I’m like ‘What I’d do,’” Benson said. “A lady was like I’m not supposed to have…$200,000 on me. I’m like, ‘I’m a millionaire.....
OKCoin, once the second largest mainland China-based bitcoin exchange (after BTC China) according to volume, has been accused of faking its trading volume data. The website stopped taking new deposits in the aftermath of the Chinese central bank implementing a ban disallowing banks and third-party payment services from working with bitcoin exchanges, leaving traders temporarily unable to charge their fiat currency accounts or cash out on some exchanges. In the days following rumours of the ban, while traders panic-sold their bitcoin holdings and would-be buyers were barred from making....