BitGrail Must Stay Close, Italian Court Says

Decision was made at the request of the law firm, acting on behalf of more than 3000 BitGrail users, who are still trying to recover the stolen funds
24 May 2018   1147

The Italian cryptocurrency exchange BitGrail will not be able to open in the near future, despite the attempts made by its founder, CCN reports.

Court in Florence upheld a preliminary decision to restrict the activities of the exchange, which is currently undergoing bankruptcy proceedings, preventing it from restarting the auction.

The preliminary decision was made at the request of the law firm BonelliErede, acting on behalf of more than 3,000 BitGrail customers, who are still trying to recover the stolen funds from the site. In February, BitGrail reported that it lost about $ 170 million in the Nano crypto currency.

BitGrail operator Francesco Firano blames crypto currency developers who allegedly left a vulnerability in their protocol, which allowed an attacker to withdraw funds from his exchange.

The Nano Foundation in turn stated that they have "reliable evidence" that the hacking was possible because of the bug in the software of the exchange, rather than their cryptocurrency. The organization also created a foundation to help victims of the attack recover the stolen funds.

Firano tried again to launch his exchange on May 2, but was forced to close the site only 3 hours after the opening, because he received the appropriate order of the court.

According to BonelliErede, the court also decided to confiscate the remaining assets of the exchange and appoint a special administration to manage them.

China to Finance Hacker Attacks on Exchanges, - FireEye

Experts believe that the victims of APT41 are industry participants, the development of which is a priority in the current Chinese five-year period
08 August 2019   313

The hacker group APT41 attacks companies in the areas of healthcare, telecommunications, fintech, media, and cryptocurrency exchanges. This activity is funded by the Chinese government, according to analysts of cybersecurity company FireEye.

Experts believe that the victims of APT41 are industry participants, the development of which is a priority in the current Chinese five-year period.

Industries Targeted by APT41
Industries Targeted by APT41

At the same time, APT41 pursues its own goals, extracting financial benefits from attacks, which is unusual for other groups under the Chinese government, according to FireEye.

APT41 is known to include at least two people with the pseudonyms Chzan Xuiguan and Wolfji. The group probably has connections with other hacker organizations like BARIUM and Winnti.

FireEye also evaluated at what time of the day the APT41 attacked the gaming industry (its core target) and businesses from other areas. It turned out that this was happening outside the framework of a standard working day - probably these people, among other things, have the main job.

APT41 Operational Times
APT41 Operational Times

According to the UN Security Council, hackers under the DPRK government stole about $ 2 billion from banking institutions and cryptocurrency exchanges.