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Italian cryptocurrency exchange gets hacked for $170 million in Nano

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The obscure Italian coin exchange BitGrail looks to be the latest cryptocurrency cautionary tale. On Friday, the site posted a notice to users informing them that hackers had made off with 17 million units of Nano (XRB), the coin formerly known as RaiBlocks.

While Nano was worth as little as 20 cents in late November, prices hovered around $10 late last week, putting the BitGrail losses at $170 million. Nano currently boasts a market capitalization of $1,287,013,24, the 24th largest of any cryptocurrency according to Coinmarketcap. More….