You probably remember Nano (formerly known as XRB) and the infamous BitGral exchange hack which resulted in a total loss of $187 million worth of NANO coins back in mid February. Well it seems that the story is not over just yet, a class action complaint has been submitted on the 5th of April on behalf of Nano investors who have suffered a loss.

The lawsuit has been filed to the United States District Court Eastern District of New York by a US citizen, Alex Brola, with the help of a law firm called Silver Miller Law. The plaintiff sues Nano’s core development team stating that the project has violated US securities by selling unregistered securities as well as promoting BitGrail by ensuring that the crypto exchange is totally reliable. As we reported, this is the exchange from where the 17 million Nano coin went missing, you can read the full story here.

The lawsuit asks the court to rule a “rescue fork” which means that Nano would fork its coin “into a new cryptocurrency in a manner that would fairly compensate the class of victims”.

The story has a few plot holes, firstly Nano never sold any tokens or coins as they were freely available through a faucet until the distribution was closed down. Secondly we are dealing with a decentralized project, which relies on users/businesses (full nodes) running a copy of the chain. This means that even if you could force the developers to fork the chain nothing would ensure your coins will have value on the new chain. You can’t force users and exchanges to move with you and the developers could just abandon the new chain without support and go back working on the original version, which the community and infrastructure supports. Thirdly technically no one owns a decentralized software, thus you can not claim that a group of developers are responsible for any loss, specially if the code wasn’t fault, but an independent business.

Alex Brola is not the only investor who has lost its funds during the theft, according to the law firm Silver Miller is aiming to contact all the effected investors in order to give more weight to the class action. Silver Miller is not new to the legal world of cryptocurrencies, they already have class actions against crypto exchanges such as Coinbase or Kraken and also support clients who suffered loss from the BitConnect pryramid scheme.