“It’s Impossible to Refund the Stolen Amount”: Interview with BitGrail’s Francesco Firano

Cointelegraph talked to Francesco Firano, CEO of BitGrail, the Italian exchange apparently hit by a cyber attack that would have caused the loss of a considerable amount of Nano tokens (formerly known as Raiblocks).

BitGrail froze trading on Thursday, Feb. 8. The exchange stated that 17 mln Nano had been stolen in the hack, an amount worth about $187 mln at the time the losses were discovered.

The statements of the developers of Nano on the matter, mixed with the understandable anger of users affected by the theft and the dissemination of confusing information, have generated a climate of strong hostility towards the team of BitGrail, then resulted in serious threats and intimidating messages.

“All those who threaten me with death, could they do it neatly under this tweet? It starts to get tiresome looking in all my posts,”

Francesco The Bomber (@bomberfrancy) 11 February 2018.

Today, Feb. 13, the BitGrail team has published an update on their website and the status of the investigations. The statement reads:

“We reiterate that we have filed a regular complaint to the competent authorities reporting the information regarding the hacks and the exploited bugs (not attributable to our software).”

BitGrail, explained, that during the communications with the developers of Nano, they have not managed to set a good dialogue.

“We have filed a further complaint about aggravated defamation in the press (as the newspapers all over the world have reported their defamatory statements) against the developers of Nano.”

Cointelegraph: How does the BitGrail team respond to allegations that it tried to cover up the theft through requests to the Nano team?

Francesco Firano: We, unlike them, have nothing to hide. We are not forced to defame, making accusations without evidence. I can see they’re very stressed by this matter.

CT: What progress are you making towards the resolution of this matter?

FF: First of all, we are trying to understand how to proceed from a legal standpoint. Once we understand what we can and cannot do legally, we’ll proceed.

CT: How would you comment on the reaction from the international community on this matter?

FF: No comment, it comments itself.

CT: Have you planned a possible solution already for the funds lost by your customers?

FF: When it’s ready, we’ll communicate it to our customers.

CT: Do you expect to find a refund solution for the customers, even if the Nano team decides not to cooperate?

FF: No, it’s impossible to refund the stolen amount.


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