Bitgrail to Refund Hack Victims with Newly Created BGS Tokens

News

Bitgrail has denied responsibility for the recent hack that saw the theft of 17 million XRB, or Nano, in comments made in a Telegram group for victims of the hack. Despite rejecting responsibility for the incident, the exchange states that it will “voluntarily” refund users through the creation and issuance of BGS tokens. Also Read:Three South Korean Crypto Exchanges Raided for Diverting Funds  Bitgrail Operator Denies Responsibility for Hack A document prepared by the operator of Bitgrail, Francesco “The Bomber” Firano, has been the subject of widespread reporting, following its dissemination to members of a Telegram group comprised of victims of Bitgrail’s hack. A translated summary of the document has been made available by the Telegram group, as Mr. Firano apparently “did not want […] the whole doc[ument]” shared. The release of the translated document was approved by Mr. Firano. The summary states that Bitgrail “plans [to] reopen soon,” adding that the date on which it will re-launch “will be announced soon.” The document also asserts that Bitgrail “still sees themselves as not responsible for the theft and therefore they believe they have no obligation to refund stolen coins”. Bitgrail to Refund Users with BGS Tokens Bitgrail states that “on reopen […] all non-nano funds will be available and withdrawable, nano balance will be set to 20% of what it was before.” In order to repay the remaining 80% of nano balances, Bitgrail states that it will “voluntarily” introduce a new token called BGS (Bitgrail Shares), which will be distributed…
Source: Bitgrail to Refund Hack Victims with Newly Created BGS Tokens

Leave a Reply

Your email address will not be published. Required fields are marked *