Tbikeguy,
Tell me more about this. From what I can see (which is a bit hard with the crank in the way) it might be the locking type. So how exactly does the ball bearing hold on the crankset side of the BB?

onespeedbiker,
This definitely looks sturdier than what I have.

fbinny,
I might get need those if anything else fails.

As a side note, I've removed the nut, but the crank set doesn't seem to care one bit. Been riding around 10km now.

Also thanks everyone for the nice advices!