BitGrail was a centralized cryptocurrency exchange based in Florence, Italy, founded by Francesco Firano. It gained popularity for being one of the few exchanges to list the Nano cryptocurrency (formerly RaiBlocks, XRB), which constituted the vast majority of its trading volume. In February 2018, the company abruptly ceased operations, announcing it had lost approximately 17 million Nano tokens (valued at around $170 million at the time) in a security breach. Subsequent investigations and court proceedings in Italy found the founder, Francesco Firano, largely responsible for the losses due to negligent security practices. The exchange was declared bankrupt, and its assets were seized to partially compensate its users.

Founded in

Italy