This case (1016705) is documented in Advisen’s Cyber Loss DataBitGrail is an Italian cryptocurrency exchange. Their claim to fame is being one of the major trading posts of RaiBlocks. On February 9, however, BitGrail posted news on its site of unauthorized transactions amounting to ~$160 million in missing cryptocurrency (shown here in English via Google Translate): Cryptocurrency trading has been suspended and law enforcement has been asked to investigate. In a subsequent update, BitGrail stated that the theft was accomplished via exploits of software other than its own. This highlights the importance of vendor cyber risk management, which Advisen’s Dave Bradford recently wrote about. BitGrail also says it has filed a complaint of defamation against the developers of Nano. Clients who license Advisen’s loss data are able to access updates to cases as they evolve. Users of Advisen’s Cyber OverVue are able to evaluate the cyber loss profiles of organizations against their peers, using comprehensive scoring for frequency, severity, and benchmarking.
Company DataBitgrail Srl is headquartered in Italy.
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