News BitGrail Exchange is Taken Offline Until Further Notice

BitGrail Exchange is Taken Offline Until Further Notice

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It appears there is no end in sight for the BitGrail exchange drama. Ever since being “hacked’ earlier this year, the situation has remained rather uneasy. In a recent post, the exchange confirms the platform has been disabled pending further notice. It is unclear if this has anything to do with the ongoing lawsuit involving the exchange and the Nano team.

The year 2018 hasn’t been all that great for the BitGrail exchange. Users of this trading platform won’t be too pleased with this recent development either. The company decided to take the exchange offline until further notice. It comes as somewhat of a surprise, even though there were some hints something like this was about to happen. Ever since being hacked in early 2018, the exchange hasn’t been performing as one would expect it to.

The BitGrail Plot Continues to Thicken

The theft of millions of Nano currency is still a big problem. Some sources claim the BitGrail platform was legitimately hacked. Others consider it to be an inside job by the platform operator. Things really got out of hand when a lawsuit was filed. Contrary to what one might expect, the lawsuit is aimed at the Nano developers, rather than the exchange. This class action lawsuit was filed on behalf of Nano investors, who weren’t too amused by these developments.

With the platform now being shut down, another interesting chapter has been written. This does not bode well for the people who lost money due to the BitGrail hack. It also doesn’t bring us one step closer to figuring out the truth. There is no indication if and when the exchange will come online again. Rest assured this is not the last we will hear of this ongoing story.

So far, it seems the cryptocurrency community is lashing out against BitGrail and its operator. The company has faced a fair bit of scrutiny, but this latest development won’t make things any better. In fact, it now affects everyone else using this platform regardless of being involved in Nano. At the same time, people had weeks to move funds off the platform. It seems not everyone was successful in doing so, for reasons unknown.

Header image courtesy of Shutterstock

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