Jian Zhang: FCoin Expects to Default On As Much As 7000-13000 BTC
[ChainDD report] February 18 (ChainDD) In FCoin official announcement "FCoin Truth," the founder of FCoin Jian Zhang said that the biggest problem that FCoin currently faces is not the problem that the system cannot be restored, but the problem that the capital reserve cannot be paid by users. FCoin may not be able to pay back around 7,000 to 13,000 BTC (around $67 million to $125 million) to its users as the platform went default.
The internal problems and technical difficulties FCoin face are the results of financial difficulties. Zhang claimed in the post that the exchange was neither hacked nor an exit scam but the problem is "a little too complicated to be explained in a single sentence."