A time of reckoning is coming for the NANO cryptocurrency, which went through a period of highly active shilling on Reddit. The NANO developers that touted the coin on social media will have to find a way to compensate those that lost funds during the BitGrail exchange hack.
Class Action Seeks Redress by Hard Fork
Silver Miller and Levi Korsinsky have opened a class action lawsuit on behalf of investors in NANO. Reportedly, during the periods of the most active shilling, NANO developers encouraged users to open accounts with the obscure Italian exchange, awaiting the launch of a more convenient wallet, as well as listing on larger exchanges.
The complaint on the case also alleges that the sale of NANO represented an offering of unregistered securities. The class action calls for a “hard fork save” of the assets lost on BitGrail.
The BitGrail exchange hack led to the loss of NANO worth $170 million, or around 17 million tokens at the time of the hack. The project itself has not seen lost coins by fault of its network, but the…