After $170 million ‘disappeared’, Nano lawsuit asks the Court to require a “rescue fork”

A lawsuit was filed against Nano, formerly known as RaiBlocks (XRB). The self-proclaimed low latency payment platform faces allegations that the firm and key members of its core team violated federal securities laws. In an effort to reach the widest group of investors, Nano encouraged their investors to open accounts with an Italian cryptocurrency exchange called BitGrail, according to the Complaint filed. In February 2018, $170 million of investors’ XRB allegedly “disappeared.” “The lawsuit asks the Court to rescind the plaintiff class’ investments in XRB and require Nano to ‘rescue fork’ the allegedly missing XRB into a new cryptocurrency in a manner that would fairly compensate the class of victims.”

The post After $170 million ‘disappeared’, Nano lawsuit asks the Court to require a “rescue fork” appeared first on The Block.

Original source
https://www.theblockcrypto.com/tiny/after-170-million-disappeared-nano-lawsuit-asks-the-court-to-require-a-rescue-fork/

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