Italian cryptocurrency exchange BitGrail was reportedly hacked last week, losing around $195 million worth of customers’ cryptocurrency.

BitGrail was one of the main portals for trading Nano (formerly RaiBlocks), the cryptocurrency of which 17 million units seem to have been stolen, according to BitGrail founder Francesco Firano. This prompted scepticism after the recent BitGrail activity.

The exchange blocked all withdrawals and deposits of the aforementioned digital coin in early January, as well as the Lisk and CryptoForecast tokens. Then, it announced that users’ identity would have to be verified according to AML protocols, with a potential ban of non-European users – in spite of its independence from bank of governments.

The Merkle pointed out that some users claimed that these were preparatory moves to a so-called ‘exit scam’. By then. The price of Nano had dropped 20%.

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Following these hack, Firano asked the developers of the Nano currency to “fork” their records to restore the funds supposedly stolen from the exchange – which came as a surprise, due to the fact that many believe that cryptocurrency transaction records are and must be kept unchanged.

The devs turned down the request publicly, sharing a copy of such conversation with Firano. They said: “we now have sufficient reason to believe that Firano has been misleading the Nano Core Team and the community regarding the solvency of the BitGrail exchange for a significant period of time”.

It seems that Firano is being accused of mismanaging customer assets and claiming a “hack” as cover. Firano told Italian news site Sole24ORE that he has received multiple death threats since announcing the hack, and several pictures of him have been posted on Reddit and Twitter.

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by Henry Vilar
Henry is Junior Reporter at IBS Intelligence, follow him on Twitter or contact him at: