Trans-fee mining was essentially a covert ICO scheme by Fcoin.
By supporting their intrinsically valueless token's price with "real" money and being too full of hubris to do their sums properly, they Ponzi'd themselves; quite funny really.
Topic: Exchange managed to lose 7000- 13000 BTC in Non Payment?(BTC downtrend reason?) - page 2. (Read 279 times)
February 17, 2020, 09:17:28 PM
February 17, 2020, 08:21:10 PM
I hadn't heard of that exchange, why would they be trusted with 13K btc?
I'm guessing they're not acutally that big and trusted when compared with coinbase or the others (bitfinex, bitstamp etc)... So it probably won't have much of an impact on the price...
And why would you come clean on a massive post on reddit, everything just says they probably scammed or wanted something else from it.
I hadn't heard of them either. They were big in China apparently (at least that's what the volume suggests). Not known to the world outside. I really dont know what to think of it though. Complete mismanagement of funds. I'm guessing they're not acutally that big and trusted when compared with coinbase or the others (bitfinex, bitstamp etc)... So it probably won't have much of an impact on the price...
And why would you come clean on a massive post on reddit, everything just says they probably scammed or wanted something else from it.
February 17, 2020, 07:52:17 PM
Quoting some final words. lol
To make this story short. This is just indeed an exit scam and all things written are just pure BS alibis.
Quote
Final words
"The unselfish beginning will bring disastrous consequences; the greed of human nature is the motive force for the advancement of society."
Things in the world are so ironic. After seeing too many greedy people, I was able to fill them up, and did not forget to call you a silly X. However, I was determined to achieve my career without fear of sacrificing all my wealth, but ended up in the name of a runaway.
Responsible for the end of your life.
"The unselfish beginning will bring disastrous consequences; the greed of human nature is the motive force for the advancement of society."
Things in the world are so ironic. After seeing too many greedy people, I was able to fill them up, and did not forget to call you a silly X. However, I was determined to achieve my career without fear of sacrificing all my wealth, but ended up in the name of a runaway.
Responsible for the end of your life.
To make this story short. This is just indeed an exit scam and all things written are just pure BS alibis.
February 17, 2020, 06:59:03 PM
So, an exchange called FCoin came clear that they are unable to pay its users upto 13000 BTC of non-payment. They came clear on a reddit post here. They claim that their exchange wasnt hacked, nor and internal volume run but it was a data error and a decision error. How are these exchanges losing investors/customers money like that and that too at such crazy amounts?
It sounds like they erroneously calculated/credited dividends, and allowed people to trade and withdraw that money. This lead to insolvency beginning in mid-2018:
And why would you come clean on a massive post on reddit, everything just says they probably scammed or wanted something else from it.
Certainly could be an exit scam, yup.
February 17, 2020, 05:20:22 PM
I hadn't heard of that exchange, why would they be trusted with 13K btc?
I'm guessing they're not acutally that big and trusted when compared with coinbase or the others (bitfinex, bitstamp etc)... So it probably won't have much of an impact on the price...
And why would you come clean on a massive post on reddit, everything just says they probably scammed or wanted something else from it.
I'm guessing they're not acutally that big and trusted when compared with coinbase or the others (bitfinex, bitstamp etc)... So it probably won't have much of an impact on the price...
And why would you come clean on a massive post on reddit, everything just says they probably scammed or wanted something else from it.
February 17, 2020, 09:54:04 AM
Such bs story, he should have gone straight to the point without being overly dramatic to look pitiful. They were unprepared and undermanned from the very start and rushed the launching of their platform. This is what happens when you chase them profits. Greed made them continue despite knowing the mining issues early on.
February 17, 2020, 09:36:28 AM
So, an exchange called FCoin came clear that they are unable to pay its users upto 13000 BTC of non-payment. They came clear on a reddit post here. They claim that their exchange wasnt hacked, nor and internal volume run but it was a data error and a decision error. How are these exchanges losing investors/customers money like that and that too at such crazy amounts?
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