Cryptocurrency Nano Hit With 2nd Suit Over $170M Loss

Law360 (January 4, 2019, 8:06 PM EST) -- The people behind the cryptocurrency Nano and the trading website BitGrail were hit with a second proposed class action in California federal court on Thursday claiming they tricked investors into using a vulnerable trading platform that purportedly resulted in the loss of some $170 million in digital assets.

BitGrail, its developer Francesco Firano, Nano and four people named as members of its "core team" were accused of fraud, violations of the Securities Act and other offenses in connection with the loss of millions of Nano, or XRB, when BitGrail was purportedly breached in 2018. James Fabian, an investor who said he...

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