Nano Foundation Sponsors Legal Fund To Provide BitGrail Hack Victims With Representation

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The Nano Foundation stated in the announcement that all reliable evidence they had reviewed “continues to point to a bug in BitGrail’s exchange software as the reason for the loss of funds.” Meanwhile, BitGrail denies the responsibility for the security breach, insisting the fault lies in Nano’s software.

Last week a class action lawsuit was filed at the US District Court Eastern District of New York on behalf of Nano investors. The lawsuit alleges that Nano violated US securities regulations in addition to misrepresenting the reliability of the BitGrail exchange. The suit asks that the court compel Nano to “rescue fork” the missing Nano into a new cryptocurrency that would fairly compensate the victims of the hack.

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