Bitgrail's founder contributed to $150M loss, Italian authorities allege
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....
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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....
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....
Snoop Dogg was touring in support of his new album, "Bush." Click photo to learn where to buy his album for Bitcoin. The rapper, actor and record producer Snoop Dogg was arrested by Italian authorities at the Lamezia Terme airport with $422,000 in cash stuffed inside of pieces of luggage. The Guardia di Finanza confiscated half of the money based on the money laundering legislation. The 43-year-old rapper, whose real name is Calvin Cordozar Broadus Jr., was on his way to England with the cash in Louis Vuitton luggage, according to an Italian lawyer who represents the entertainer. The....
Three Italian institutions have issued new bitcoin warnings in recent days, calling for new legislation to eliminate loopholes and regulatory ambiguity. The warnings come just weeks after Italian lawmakersmet with a group of bitcoin advocates in a fact-finding session. Soon after that, on 1st July, the successful 'No Cash Day' event also saw bitcoin representatives advocating for the digital currency in parliament. Bitcoin regulation urged. Speaking in an interview with Ansa.it, Attorney General of Rome, Luigi Ciampoli, warned that bitcoin could be abused by criminals engaged in money....
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