Case 1016705: $160M of Cryptocurrency Goes Missing in BitGrail System Breach



This case (1016705) is documented in Advisen’s Cyber Loss Data

BitGrail 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):

BitGrail Posted News of 160M in Missing Cryptocurrency


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.

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Company Data

Bitgrail Srl is headquartered in Italy.
Its SIC code is 7389 – Business Services, Nec.



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