The claim brought by token purchaser Alec Otto and the class action around it was filed too late, and was made of allegations unsubstantiated by the evidence, according to Nano developers.
Italian police have alleged a 34-year-old man from Florence is thought to be behind the theft from the exchange, which saw the company collapse into bankruptcy with significant losses for its users.
Francesco Firano, the founder and owner of BitGrail, has been commissioned by the courts to return as many assets as possible to his customers.
A new lawsuit filed in California federal court accuses the developers of Nano of fraud and violation of the securities act.
Investors of Bitgrail have suffered yet another setback, following announcements that the Italian courts have seized the assets of the embattled cryptocurrency exchange as the firm’s bankruptcy proceedings continue.
Defunct Italian cryptocurrency exchange BitGrail has shot its bolt and would not be reopening anytime soon—on court orders.
BitGrail, which recently made headlines due to February's Nano hack, found itself again a victim of yet another unfortunate incident that dented quite a bit of its credibility.
Another development in the Nano developers lawsuit that uncovers the details behind the theft dated Jan 19 but was first reported on Feb 8, 2018.