The initial reason for suspension was an apparent hack attack on February 8 resulting in the loss of 14 million Nano coins worth $187 million, after which the investors who lost their assets filed a petition asking an Italian court to declare the exchange bankrupt, as the traders were worried that their funds would be depleted further. In March, BitGrail promised to refund the victims in new BGS tokens, but as part of this arrangement, traders would have to sign an agreement forgoing any legal actions against the exchange.