Published On: Tue, Apr 10th, 2018

Nano (NANO) Faces Class Action Lawsuit, May Need to ‘Rescue Fork’

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The law firm of Silver Miller has launched yet another lawsuit against a digital currency company. This time, they are suing Nano and responsible individuals for their role in ushering investors to BitGrail, the popular cryptocurrency exchange which inexplicably lost $170 million of investor funds in February.
Compensation Required
Silver Miller has launched new class action lawsuit against Nano – formerly known as RaiBlocks (XRB) – and key members of the cryptocurrency’s team.
The lawsuit comes less than two months after popular cryptocurrency exchange BitGrail reported a loss of 17 million Nano – valued at over $170 million at the time of the supposed hack. However, at the time of the incident, conflicting reports also surfaced suggesting the exchange to be insolvent for a number of months.
According to the plaintiff, Nano and individual team members “engaged in an unregistered offering and sale of securities that violated federal securities laws, including Sections 5, 12(a), and 15 of the Securities Act of 1933.”
Furthermore, Silver Miller claims that the cryptocurrency company is responsible for directing investors to Bitgrail. Notes a press release from the law firm:
Nano and key members of its core team violated federal securities laws and that, in …

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