Chinese Exchange FCoin Closes Down, Still Owes Users $125 Million

Cointelegraph

Published Feb 17, 2020 07:04PM ET

Updated Feb 17, 2020 08:42PM ET

Chinese Exchange FCoin Closes Down, Still Owes Users $125 Million

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 owes users.

According to Zhang, the exchange hasn’t been hacked and isn’t an exit scam. But evidence suggests it might be exactly that.

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