The growing Bitgrail scandal could take Nano down with it

By John Miller

Sunday the 4th of February 2018

 

Ever heard of Onecoin before? Yeah, neither have I. That’s because in August last year they received a massive fine from Italian regulatory authority Autorità Garante della Concorrenza e del Mercato. And it was all downhill from there, as the other regulatory authorities began to pile on.

Less than six months ago Onecoin was Lamboland. The involvement of the AGCM was the beginning of the end for them. The investors lost all their money, and the team behind Onecoin went directly to jail.

What does this have to do with XRB though? Nano. Raiblocks. Whatever XRB is being called this week.

Welp, as you all know by now, Bitgrail decided to Bitjail all of its customers on the same day that the big Raiblocks to Nano switcheroo announced. I was one of those customers who was suddenly told that my XRB was forfeit. Because reasons. Uh, OK.

But I could still get my Bitcoin investment back, right? Apparently not.

Well, lucky for me Bitgrail is an Italian exchange. That means I can just write to the Autorità Garante della…. the AGCM, and lodge a complaint.

AGCM lodge complaint

Lucky for me, I’m the kind of guy who keeps records about everything. Never been in trouble with the law, quite happy to be totally transparent about all of my financial dealings. So naturally I dropped the AGCM a line. To let them know that Bitgrail was fleecing their customers.

How does this affect Nano though? Railblocks. XRB. Whatever the hell they call themselves this week?

Well, it is pretty clear that Bomber Francy had insider information from somebody at Raiblocks. He could have just made a quiet killing when the price of XRB spiked. Only he got greedy and decided to steal everyone’s coins. Also the entire market crashed, kek.

So what will the Italian authorities find when they look through his communications?

I’m betting that somebody at Raiblocks/Nano has been colluding with Bomber to make money from insider trading, and I’ve got my popcorn ready for when the Italian and American authorities come down like the wrath of God on our Italian scammer and the XRB guys in Texas.

If they got in bed with crooks, we’ll soon find out. Of course, XRB may turn out to be squeaky clean. Cheats never prosper though, and nor should they.

Full disclosure: John Miller’s IRL name is Frank Faulkner. I’m an Aussie who’s keen on Conservative politics, Trump, and the Anime Right. I enjoy various Christian activities and talk about Crypto too much.

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