TL;DR:
- The Nano Foundation issued a statement on April 27 to differentiate bankruptcy payments from ongoing civil proceedings.
- Francesco Firano, operator of the defunct BitGrail exchange, claimed to have settled debts, but legal claims against him are pursuing separate paths.
- The community is evaluating an auction plan to distribute 4.2 million XNO, seeking to avoid a negative impact on market prices.
The Nano Foundation has addressed the misinformation generated by Francesco Firano regarding the status of compensations. The group clarified that Nano responds to BitGrail accusations to protect users affected since 2018.
Statement from the Nano Foundation 27 April 2026 pic.twitter.com/8kelCJUP77
— Nano (@nano) April 27, 2026
Since February 2018, when BitGrail collapsed and millions of RaiBlocks (now XNO) disappeared, market capitalization and trust have faced challenges. The asset maintains a maximum supply structure of 133,248,297 XNO, making any legal distribution critical for liquidity.
The fundamental distinction lies in the fact that creditors in the bankruptcy process are different entities from civil plaintiffs in criminal proceedings. Therefore, a partial reimbursement in bankruptcy court does not extinguish legal responsibilities for the missing funds.
The foundation highlighted that the judicial process remains active and that Firano’s statements do not represent the end of the legal conflict. This approach seeks to mitigate the confusion that has affected the community for a decade with constant litigation.
Legal Differentiation and the Future of XNO
While legal loose ends are being resolved, focus has shifted toward a community proposal dubbed “Nano.Auction,” a solution to manage remaining assets. An auction of 4.2 million XNO tokens organized in lots of up to 40,000 units is proposed to ensure transparency.
This mechanism would utilize smart contracts and multi-signature wallets to ensure that the “price discovery” process is fair and open. Participants would bid in NanUSD, integrating Nanswap tools to facilitate the technical execution of the proposal.
Unlike traditional liquidation methods, this phased auction strategy would last between three and six weeks depending on demand. The main objective is to avoid a massive “dump” on exchanges that could destabilize the asset’s current value.
The organization’s stance is firm regarding the separation of judicial processes, ensuring that the rights of civil claimants remain intact. The resolution of the BitGrail case remains a priority for the long-term integrity of the Nano ecosystem.
