Originally published at: https://toshitimes.com/nano-foundation-to-contribute-1m-towards-a-fund-for-bitgrail-hack-victims/
It seems that the legal standoff between the Nano Foundation and the now-defunct Bitgrail crypto exchange is poised to continue. The Nano Foundation, which is a team behind Nano cryptocurrency (formerly known as XRB) has updated the developments on the situation via a Medium post yesterday, stating it would sponsor setting up a legal fund,…
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Such a fork would mean that anyone that has bought Nano since the issues started at Bitgrail would effectively lose all of their money and their Nano. Just to be clear, this goes back all the way to October 2017 and would affect a lot more people than those who have lost their money at Bitgrail; the team has always been squarely against doing this.
It would also affect those people that were using bitgrail and were able to withdraw their Nano. This would effectively kill Nano / XRB, those that lost would get their money back but those that have been buying Nano since (elsewhere) would then need to start a class action suit of their own against Silver Miller and the current class action.