Actually it's gone up a lot more in last few minutes but servers are a bit overloaded (problems logging in)
It could be some elaborate exit scam, who knows, but at the moment you can make some money.They updated their announcement:
UPDATE 12:00 PM Wednesday, 28th February 2018 - From FB
( SIMPLIFIED)
(1) We will be listing on two major exchanges on the 5th of March, you’ll be able to trade on HitBTC and Coin Exchange. Coin Market Cap will list the coin post the coins trading for more than 24 hours on the external exchanges.
( EXPLAINED) Meaning these two exchanges won't be the only exchanges. Falconcoin will still be listed in one or more exchanges later. Coin market will list falconcoin after falconcoin has traded on the two external exchanges ( HitBTC and Coin Exchange) for more than 24 hours, which could be after 2 or more days.
(2) Over the past week we have been upgrading members wallets to allow the transfer of ECR20 Falcon tokens in and out of the System. This will be available for members on the 4th of march ahead of external listings.
( EXPLAINED) You will be able to send Falconcoin to your personal ECR20 compatible wallet like myether wallet and you will be able to trade directly from the wallet to external exchange or back to internal exchange. This will be available for members on the 4th of march ahead of external listings to enable high volume of trading from multiple sources.
(3) As a 48 hour promotion we are going to offer a 1 for 1 purchase promotion on our internal exchange. This starts NOW! and will end 12:00 PM Friday, 2nd March 2018.
If you purchase 100 tokens one the exchange you’ll be credited an additional 100 tokens on the 3rd of March 2018. If you buy 100 tokens, then sell 100 tokens then re-buy 100 tokens then your net purchase over the 48 hours is 100. You will not be credited for the purchase of 200 tokens as you sold 100 during the promotion.
( EXPLAINED) We are offering a 48 hours promo which started the same hour this post was initially posted and will end 12:00 PM Friday, 2nd March 2018. You will get double of any amount of Falconcoin you buy during this period of the promo but the bonus will only be given to you on the 3rd of March 2018 OR days after. As the case may be. ( Falcon credits from the internal exchange promotion will be created post the promotion finishes, so that we can accurately credit customer accounts.) If you buy 1000 FFC during the promo, you will get 1000 FFC as bonus on the 3rd of March 2018 or Days after, as the case may be.
(T&C)
IF you buy FFC during this promo and also sell FFC, your bonus will be; TOTAL BUY - TOTAL SELL
(4) And finally one of our biggest updates to affect all members going forward.
Given the significant changes in the industry over the last 30 days, our team has had to go back and think up creative ways to bring not only value for our members but long term stability. We want to make Falcon Coin the most attractive and trusted platform in the lending space and we have decided we are going to trial Exchange Protection for the next 90 days.
Exchange Protection works by protecting investors from negative coin fluctuations on our internal exchange. As the share price increases so will the minimum a seller or buyer can trade on our internal exchange. Exchange Protection will start at 12:00 PM Friday, 2nd March 2018 and the price will be officially locked in as the lowest price. As the price increases the minimum will also increase. We are going to trial this feature and monitor the effects on the platform and the community closely over the next 90 days.
( EXPLAINED) This is NOT manipulation.
We want to make Falcon Coin the most attractive and trusted platform in the lending space and we have decided we are going to trial Exchange Protection for the next 90 days, which means, if we discover during this trial period of adopting this strategy that it is not good for the community, we will reverse it. That is why it is called trial.
THIS IS THE STRATEGY. We all have seen how price has been going back and forth in a way not profitable for all, which is a negative coin fluctuations. During this trial Exchange Protection on our internal exchange, FFC new high price record will be setting limits to the amount of FFC a buyer can buy and a seller can sell. Let's say 1$ FFC is 100 FFC limit. It means, when FFC gets to 1$, you must have up to 100 FFC to be able to trade Exchange Protection will start at 12:00 PM Friday, 2nd March 2018 and the price will be officially locked in as the lowest price. This means, whatever the price of FFC is at the time we shall begin, will be the first FFC new high price record. As the price increases, the minimum you can trade will also increase BUT IT IS A TRIAL, SO NO NEED TO WORRY.
We are going to try this features and monitor the effects on the platform and the community closely over the next 90 days, maximum.
Falcon credits from the internal exchange promotion will be created post the promotion finishes, so that we can accurately credit customer accounts.
THANKS
(FALCONCOIN SOCIAL)
Anyone care to check if they really will be listed on hitBTC as that is quite an achievement if they managed it?
EEEEK it looks like it was an elaborate exit which I said above was a possibility. I'd been trying to confirm their listings on HitBTC (goldgate managed it the other day) and coinexchange but nothing was confirmed.
This looks like another disaster for lending. Only Lendconnect still going that seems legit. Bitconnect lending lasted a really long time and wouldn't have needed to close if it wasn't for complainers but others seemed like scams towards the end at least. I wouldn't be surprised if they got some subpoenas from USA and got scared as they never limited USA users like all more recent 2018 ICOs seem to now do (as even the TokenPay ICO which was simply a private coin with nothing that could be easily construed as securities had to ban USA after the ICO started).This is the message on their new News Channel
🚨It looks like the worst has happened. The Admins have not heard from WILL -CEO and Mike – SCO or anyone from the Falcon team. Due to this admins are inclined to believe WILL and Mike have found their way out along with all the funds. The wallet of Falcon coin was also emptied. This wallet address was shard by Will when things were going well. The falcon website is not working now and absolute silence from the founders indicate that they are no longer in business. All the Admins were completely blindsided and left hanging with no information. Please understand that each volunteer admin is not a member of the official falcon coin team and Admins were never compensated in anyway for all the community work they did. Most of the social media was managed by admins voluntarily to help bring news to the community as fast as they could. As soon as admins realized that falcon coin is no longer in business they have decided to take down all the social media to and cease all support to Falcon coin. During these hard times we ask you to be compassionate towards the admins as they are investors too and they had no control or any part of what the official falcon coin team did. Following is the wallet address that WILL – CEO sent to check the Falcon coin transactions -
https://blockchain.info/address/3BLBPgLXuz1LXe96PZA1Tx6iGQwLKP32aEI put in half a bitcoin recently so lost that it seems. BTW I just checked that address and it seemed to have already been emptied at the start of the month, so doesn't really prove much.
