Feb 21, 2020
The FCoin exchange, which revealed its insolvency this week, may have already had issues as early as July 2018.
Fcoin, a crypto exchange that adopted the controversial "trans-fee mining" model, has paused trading and withdrawal services after revealing a shortage of crypto assets worth up to $130 million.
A recent report from Silicon Valley-based Anchain AI wonders out loud whether funds were purposely pilfered by insiders, challenging FCoin’s official line claiming a data error was to blame.
Crypto exchange FCoin is to buy back 100 million of its own tokens to provide capital for a new fund of funds.