FCoin announced it would reopen the exchange and draw a repayment scheme thanks to community cooperation, but can it compensate the thousands of Bitcoins it lost? The FCoin exchange has officially announced that it will relaunch operations. A committee was formed after the exchange announced insolvency, promising to eventually return users’ funds. The exchange’s existing…
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Regular, non-random Bitcoin outflows from FCoin’s cold wallet point to an exit scam amid the crypto exchange platform’s shutdown. Less than two years after bursting onto the scene, Chinese crypto exchange FCoin has shut down its operations. The platform, founded by Zhang Jian, also says it may be unable to pay the 7,000 to 13,000 Bitcoin…
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FCoin comes up short, failing to pay out up to 7,000 to 13,000 BTC (around $67 million to $125 million) to users. Zhang Jian, founder of Chinese crypto exchange Fcoin, revealed in a post earlier today that FCoin may not be able to pay the 7,000-13,000 BTC (that’s $67 million to $125 million) that it…
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