According to a notice dated 7 January 2019, Silver Miller, a crypto-focused law firm and Levi & Korsinsky, a securities law firm, filed a class action lawsuit against the developers of the altcoin Nano (NANO) and Italian crypto exchange BitGrail. Both the law firms represent a Nano investor named James Fabian and other individuals who were placed in the same situation as him. Developers and significant members of the core team of Nano were accused of violating federal securities laws for being involved in an unauthorized offering and sale of securities. They were also accused of directing investors to entrust their funds to the crypto exchange BitGrail, a non-transparent firm with multiple issues. BitGrail and its CEO Francesco Firano were also required to defend themselves for promoting the cryptocurrency NANO.