BitGrail announced on its website that it lost $170 million to fraudulent transactions and that it has already reported them to authorities. It has suspended all withdrawals and deposits “in order to conduct further verifications.” However, unlike Coincheck, which promised to give users their money back, BitGrail founder Francesco “The Bomber” Firano announced on Twitter that there’s no way to refund 100 percent of what users lost.

While BitGrail’s loss is in no way as massive as Mt. Gox’s, it’s still steeped in controversy. The Nano team said that they have no “reason to believe the loss was due to an issue in the Nano protocol” and that the “problems appear to be related to BitGrail’s software.” They also published a copy of their conversation with the exchange’s founder and said that Franceso suggested they modify the ledger to cover his losses.