Cryptocurrencies: 3126 / Markets: 22439 Market Cap: 24h Vol:
Cryptopolitan
2020-02-18 08:39:29

Chinese exchange FCoin shuts down owing $125M to users

As FCoin shuts down, the founder of the Chinese crypto exchange, Zhang Jian, revealed in a post that the company might not be able to pay the funds it owes its users. As per the statement, FCoin owes 7000-13000 Bitcoin to its users, a sum that is worth between 67 and 125 million US dollars. FCoin shuts down As per Zhang, the exchange has not suffered any hack and is by no means an exit scam; however, the evidence suggests otherwise. Zhang claims that the shutdown is the result of a saga of internal issues, including data errors and decisions

Get Crypto Newsletter
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer