Chinese Exchange Fcoin Shuts Down Due To Series Of Internal Data Errors

Zhang Jian, the founder of Chinese crypto exchange Fcoin, announced in a post prior today that FCoin would not afford to pay the 7,000-13,000 BTC that it owes users.  Zhang claimed the exchange hasn’t been hacked and isn’t an exit scam. Zhang explained that the shutdown is due to a series of internal data errors and decisions that are too complicated to explain.

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