Home Cryptocurrency News Altcoin Nanex Will Contribute to the BitGrail Exchange Victims’ Legal Fund

Nanex Will Contribute to the BitGrail Exchange Victims’ Legal Fund

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It seems the BitGrail-Nano story is far from over at this point. The Nano Foundation has made it clear they will match donations to the Bitgrail legal fund. It now seems Nanex is planning to do the same, albeit in a slightly different fashion. All of these developments are quite positive for victims of the exchange’s hack.

A few weeks ago, Italian cryptocurrency exchange Bitgrail was hacked. A lot of money was lost in the process, all of which were taken in the form of the Nano currency. Ever since that time, various victims of the exchange’s incompetence made it clear they want to take legal action. That will prove to be quite challenging, for many different reasons. Going to court is not a cheap venture by any means.

Aiding the BitGrail Exchange Victims

Thankfully, it seems the Nano Foundation will help out in this regard. More specifically, they will match donations to the BitGrail legal fund for some time to come. It now seems Nanex, a Nano-oriented digital asset exchange, will do the exact same. More specifically, they will donate 25% of the trading fees generated by their platform. This will run from April 9th until May 31st. A positive development for victims of this hack.

How this funds will be used exactly, remains to be seen. It is evident a lot of people want to recover their lost funds in one way or another. Taking legal action certainly helps, although it may not have the desired effect. A legal battle can take anywhere from weeks to several years. The overall costs will continue to mount in the process, for obvious reasons.

It is also worth noting a lawsuit has been filed against the Nano team. This complaint is filed by the BitGrail exchange blaming the hack on the Nano source code itself.Allegedly, this code contains various flaws which allowed hackers to steal money. So far, there has been no evidence of such bugs being present, though. Rest assured this is not the last we hear about the BitGrail-Nano debacle.

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