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$195M Hack: Nano (NANO) Only “Good on paper”, Bitgrail Founder Alleges

Bitgrail has spoken tough on alleged hanky-panky game played by NANO team after around $195M worth of NANO was carted away by hackers on Bitgrail wallet, saying NANO is only “good on paper”.

Remember Silver Miller, a leading cryptocurrency investor law firm in America, filed a new class action lawsuit on behalf of investors in Nano f/k/a RaiBlocks (XRB), asserting that Nano and important members of its development team violated federal securities laws.

The class action lawsuit alleges that, Nano and team, in their action to introduce XRB to a wide market of investors, thoughtlessly made investors to open accounts and place their assets with an unknown and severely distressed, Italian cryptocurrency exchange, BitGrail, where around $170 million of the investors’ XRB allegedly “disappeared” in February 2018.

While trying to absolve themselves, NANO team in a message to the community on the obscene occurrence, stated that it was informed by Francesco “The Bomber” Firano – owner and operator of the BitGrail exchange, stating further that the team has contacted law enforcement, and that the problem lies with Bitgrail.

“From our own preliminary investigation, no double spending was detected on the ledger and we have no reason to believe the loss was due to an issue in the Nano protocol. The problems appear to be related to BitGrail’s software,” the team stated.

Bitgrail Speaks Tough

Francesco Firano, founder of Bitgrail in a medium post highlighted that his team are very close to NANO team, and the later were given access to Bitgrail’s data base for safety and recommendations.

“The NANO team, especially Colin LeMahieu, had complete access to our servers for a while as we gave him direct access to the database and servers. That is how close we worked as a team and as a preferred exchange which they forced me to keep open, despite my constant warnings about the technology and problems we were having for months,” Firano maintained.

He then highlighted Chats confirming he’s always in touch with the team at NANO.

“The following chat is from early December 2017 before NANO reached $37 and a $4.5 BLN market cap is one of the many dozens of chats I had directly with the NANO team as I continually informed them of major issues with their technology and their implementation.”

He went further claiming that NANO team are known for disrespecting Bitgrail.

“The NANO team was relentless in directing users to the BitGrail exchange despite the major issues I had consistently warned them about . They treated BitGrail with disrespect continuously and it was a constant back and forth. Since they were native English speakers, it added an extra layer of trust for them from their social media followers. Sometimes it is difficult to get your point across in a different language.”

Firano, after series of allegation, said he had warned NANO team on some irrelevancies, but they turn deaf ears putting all blames on Bitgrail team, claiming afterward that NANO is only good on paper.

“NANO looks good on paper. There is specifically a major issue with it being extremely centralized because the top 10 users own about 80% of the coins and the problematic block explorer and most major node servers are ran by one group of people,” he said, pointing that NANO is centralized.

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NANO (XRB) Regains Confidence, Prepares For Ledger Hardware Wallets

The worst appeared to have happened to the cryptocurrency community this year. Now, digital coins are gaining ground and trying to outrun each other. This is also the case of NANO (XRB), the cryptocoin is now trying to regain its strength, confidence, and get attention like it did in the past.

One very major incident that nearly took NANO’s feet off the ground was the $150 million massive BitGrail hack of April 8, and recently the new class lawsuit action spearheaded by Silver Miller, a blockchain investor law firm situated in America, in the name of the affected users. The hack was defended by NANO, and the team levied the fault wholly on BitGrail. During this turbulence period, the price of NANO fell to $4.15, but now, NANO is trying to get back on track with latest development coming in day by day.

NANO (XRB) Releases New Version

NANO, in a bid to make more development, has announced the release of its new version dubbed Version 12.1.

Version 12.1 Released:— Nano (@nanocurrency) April 21, 2018

NANO Hardward Wallet.

In the same line, XRB may soon be added to Ledger Hardware Wallet since the team has submitted the asset for review. This was related by some crypto platform.

Aware Of Milestone 12.

The long lasting solutions that NANO is trying to proffer is to analysts a necessary one. NANO, after many observers, including the BitGrail team, advised that the digital coin undergo hardfork, decided to check into its codes and see if there is anything to change. Shortly afterward, NANO team now released a major update called ‘Milestone 12’, purposely to reinvent in the mind of crypto enthusiasts that the coin is coming back.

The updates, precedes NANO 12.1, which is a patch of NANO 12, and it is packed with enormous number of improvements. With the new updates, NANO has the potential to be secured from hackers, and appear cleaner than it was in the past. The cryptocoin is now on the green line. Now NANO trades at $7.39, has a market cap of $984,306,445USD, a sign it is on for a bull run. Soon, NANO will reach $10, but only time will tell.

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Ripple [XRP] Price Almost Makes The big $1.00 Leap – Wallet Choices for XRP

Ripple (XRP) experienced a price rocketing against the US Dollar as it flew from $0.71 on April 19 to $0.932 on April 20 with just a few steps away from touching the major $1.00. The current levels of reversal are a result of the market breaking the declining trend that has been going since March – which was the time when XRP did trade above the $1.00.

XRP Future

Source: coinmarketcap

The trading volume has gone up from $400 mil to $2.4 billion in just 2 days, with the Asian traders stepping in and leading the three first positions: Bithumb, Upbit and Bitbank.

If this push seems like a could reason for you to finally buy in or you want to turn on your radar and check for good wallets choices, below you find some that our team finds reliable and are very popular:

Toast Wallet – Considered one of the best desktop wallets to keep your XRP tokens safe. The open source project has its versions for various platforms like – iOS, Android, Linux, Windows and Mac OS. It is completely free and has No-fee on transactions. As an addition, it is very recommended for those new to trading and digital asset trading as it is very easy to use.

Ledger Nano S – Most recommended multi-coin hardware wallet which even gives the opportunity to save-up your Ripple coins. Very compact and small making it easy to be carried with yourself where-ever you go.

When using it with your computer, you just need to connect it to the computer via a USD port. But it also has an inbuilt OLED screen display which allows you to confirm every transaction when not connected to your computer. To check and confirm transactions, it has side buttons.

Abra Wallet – a mobile app wallet which makes even trading available. So, trading and storing XRP in the same place is not that hard to find. You can trade your fiat money for XRP and then store it in the wallet implemented in the trading app.