FCoin Exchange Shutdown: Technical Difficulties or Planned Scam?

I. FCoin Shutdown Announcement

The crypto community was shocked by FCoin’s recent public statement regarding the shutdown. Not long ago, in late 2018, China-based FCoin was the №1 exchange by daily trading volume.

II. FCoin’s Empty Cold Wallet

The crypto community tends to have a short memory. In late 2018, FCoin was the №1 exchange by daily trading volume. The FCoin whitepaper disrupted the crypto exchange business model by the introduction of their transaction dividend reward program, and by officially publishing their cold wallets for transparency.

III. Reconstructing the FCoin On-Chain Timeline

From the FCoin official cold wallet address (12rU7whLERNrkDb8bTe9VJJSKZvCXy7dj7), the AnChain.AI intelligence system is able to track the Bitcoin UTXO transaction flows and reconstruct the timeline. Our system analyzed over 210,000 related transactions and revealed patterns of unusual activity among FCoin’s 40,000 wallet addresses in their exchange wallet infrastructure.

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AnChain.AI

AnChain.AI

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Blockchain data analytics firm providing security, risk, and compliance solutions.