Audit log

Every state-changing event for FCoin: moderation decisions on community submissions, plus corrections and updates from the news pipeline. URL-based decisions carry three independent witnesses — the original source, an Internet Archive snapshot taken at submission time, and a Solana memo signed by our publicly-disclosed publisher key.

1. #1publishby system:backfill

   2026-05-31 18:13:27Z
   Score: ? → ? (no score change)
   anchoranchored

   chain

   ●mainnet-betaslot 423,426,502

   sig

   HyYTyje9x2op…NokyopNWcopyexplorer ↗

   hash

   4MYrJdC2KND1…8ARhWDZUcopysha256 → base58

   verifying row…full verify ↗

   canonical bytes (24953 B) ▸

   {"actor":"system:backfill","investigation_id":"7c59793c-e32a-4f23-b942-64bed8daffa6","kind":"publish","page_slug":"fcoin","published_at":"2026-05-31T18:13:27.190Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"FCoin","sections":[{"content":"FCoin was founded by Zhang Jian, who previously served as CTO and VP of Technology at Huobi, one of China's largest cryptocurrency exchanges. Zhang also authored the book 'Blockchain: Defining The Future Finance and Economic Landscape' and had previously created the blockchain browser Qukuai.com and crypto wallet Kuaiqianbao. FCoin launched in May 2018 and received early investment from Danhua Capital and Node Capital. The exchange was primarily oriented toward Chinese-speaking users and positioned itself as a 'community-based' platform. Zhang Jian held the role of founder and CEO.","heading":"Background and Founding","severity":"low","sources":[{"credibility":2,"name":"Former Huobi CTO Zhang Jian Launches FCoin — CoinTelegraph press release","type":"news_article","url":"https://cointelegraph.com/press-releases/former-huobi-cto-zhang-jian-launches-fcoin-gaining-investments-from-top-venture-capital-firms"},{"credibility":2,"name":"Chinese Crypto Exchange Start-Up FCoin Receives Funding From Danhua, Node Capital — China Money Network","type":"news_article","url":"https://www.chinamoneynetwork.com/2018/05/22/chinese-crypto-exchange-start-up-fcoin-receives-funding-from-danhua-node-capital"}]},{"content":"FCoin pioneered the 'trans-fee mining' (交易即挖矿) mechanism, under which users received 100% reimbursement in FT tokens for all trading fees paid in Bitcoin or Ethereum, and the platform redistributed 80% of its daily BTC and ETH fee collections to FT token holders as dividends. The total FT supply was capped at 10 billion tokens, with 51% allocated to the public via the trading mechanism. Within weeks of launch, FCoin reported 24-hour trading volumes exceeding $17 billion on June 26, 2018 — a figure that, if accurate, exceeded the combined volume of the world's next several largest exchanges. Binance CEO Changpeng Zhao publicly challenged the model, arguing it was economically equivalent to users purchasing the platform's own token with BTC and ETH, and warned the exchange risked unsustainability without genuine transaction fee revenue. Concerns about wash trading driven by bots seeking to accumulate FT tokens were raised by Chinese crypto media within the first month. OKEx subsequently announced plans to support 100 new exchanges using the same model, and Binance satirically offered to launch 1,000 platforms with 200% reimbursement, signaling widespread industry skepticism.","heading":"Trans-Fee Mining Model","severity":"high","sources":[{"credibility":1,"name":"FCoin Crypto Exchange Draws Fire for Controversial Business Model — CoinDesk","type":"news_article","url":"https://www.coindesk.com/markets/2018/06/22/fcoin-crypto-exchange-draws-fire-for-controversial-business-model"},{"credibility":2,"name":"Inside the $130 million meltdown of China's FCoin exchange — Decrypt","type":"news_article","url":"https://decrypt.co/20291/inside-the-130-million-meltdown-of-chinas-fcoin-exchange"},{"credibility":2,"name":"Trans-Fee Mining Bubble Finally Popped as FCoin Goes Bankrupt — Finance Magnates","type":"news_article","url":"https://www.financemagnates.com/cryptocurrency/exchange/trans-fee-mining-bubble-finally-popped-as-fcoin-goes-bankrupt/"}]},{"content":"On-chain analysis conducted by security firm PeckShield after the eventual collapse revealed that FCoin's Bitcoin holdings peaked at approximately 13,272 BTC on July 19, 2018 — just two months after launch — and then declined sharply to approximately 3,759 BTC by August 31, 2018, representing an outflow of nearly 10,000 BTC. PeckShield identified approximately 3,500 BTC transferred to wallets at major exchanges including Huobi, OKEx, Binance, Coinbase, and Bitfinex, in round-number transactions of 100–200 BTC inconsistent with typical user withdrawals. The firm stated: 'Our initial guess is FCoin's cashflow problem may already have emerged in July 2018.' Zhang Jian later attributed early losses to a system bug that had been over-issuing mining rewards since mid-2018, though the exchange did not implement a comprehensive back-end auditing system until mid-2019.","heading":"Early Warning Signs (July–August 2018)","severity":"high","sources":[{"credibility":1,"name":"Insolvent Exchange FCoin Had Bitcoin Outflow Problems Just Two Months After Launch — CoinDesk","type":"news_article","url":"https://www.coindesk.com/business/2020/02/21/insolvent-exchange-fcoin-had-bitcoin-outflow-problems-just-two-months-after-launch-report/"}]},{"content":"The FT token price surged to approximately $1.26 within the first two weeks of the trans-fee mining program before collapsing approximately 95% to around $0.08 by August 2018. FCoin's 24-hour trading volume fell from over $17 billion to approximately $160 million by mid-August 2018. As the token's value declined through 2019, Zhang Jian's team used exchange reserves to buy back FT tokens on secondary markets in an attempt to support the price — a strategy Zhang later admitted compounded the reserve deficit. Zhang described this as using 'polluted token to buy other polluted tokens.' The combination of over-issued rewards and buyback spending is cited in Zhang's own account as the mechanism by which the shortfall grew to its eventual scale.","heading":"FT Token Collapse and Buyback Spiral","severity":"high","sources":[{"credibility":2,"name":"Inside the $130 million meltdown of China's FCoin exchange — Decrypt","type":"news_article","url":"https://decrypt.co/20291/inside-the-130-million-meltdown-of-chinas-fcoin-exchange"},{"credibility":2,"name":"Trans-Fee Mining Bubble Finally Popped as FCoin Goes Bankrupt — Finance Magnates","type":"news_article","url":"https://www.financemagnates.com/cryptocurrency/exchange/trans-fee-mining-bubble-finally-popped-as-fcoin-goes-bankrupt/"}]},{"content":"On approximately February 10, 2020, FCoin announced a token burn of 720 million FT tokens. Within days, the exchange suspended all trading and withdrawals citing 'technical upgrades.' On February 17, 2020, Zhang Jian published a lengthy open letter titled 'FCoin Truth' in which he admitted the exchange was insolvent and unable to fulfill withdrawal requests. He disclosed a shortfall estimated at 7,000 to 13,000 BTC — valued at approximately $67 million to $130 million at the time of the announcement. Zhang attributed the shortfall to a multi-year data error in the platform's reward-disbursement system, which had been issuing more mining rewards than users had earned since mid-2018, compounded by the token buyback decisions. He stated the problem was 'a little too complicated to be explained in a single sentence' and denied the exchange had been hacked or that the shutdown was an intentional exit. Zhang pledged to personally process withdrawal requests submitted by email and proposed to repay creditors through profits from future ventures over a period of one to three years.","heading":"February 2020 Insolvency Admission and Shutdown","severity":"critical","sources":[{"credibility":1,"name":"Crypto Exchange FCoin Insolvent After Revealing Up to $130M Bitcoin Shortfall — CoinDesk","type":"news_article","url":"https://www.coindesk.com/markets/2020/02/17/crypto-exchange-fcoin-insolvent-after-revealing-up-to-130m-bitcoin-shortfall"},{"credibility":2,"name":"Chinese Exchange FCoin Closes Down, Still Owes Users $125 Million — CoinTelegraph","type":"news_article","url":"https://cointelegraph.com/news/chinese-exchange-fcoin-closes-down-still-owes-users-125-million"},{"credibility":2,"name":"An Important Update From Zhang Jian — FCoin Asia on Medium","type":"official","url":"https://medium.com/@fcoin_asia/an-important-update-from-zhang-jian-b98737ddb7f9"},{"credibility":3,"name":"FCoin Closes Shop, Owes Over $125 million — Altcoin Buzz","type":"news_article","url":"https://www.altcoinbuzz.io/cryptocurrency-news/finance-and-funding/fcoin-closes-shop-owes-over-125-million/"}]},{"content":"Blockchain analytics firm AnChain.AI published a report titled 'FCoin Exchange Shutdown: Technical Difficulties or Planned Scam?' that analyzed over 210,000 transactions across approximately 40,000 wallets associated with FCoin. The analysis tracked Bitcoin UTXO flows from FCoin's primary cold wallet address (12rU7whLERNrkDb8bTe9VJJSKZvCXy7dj7), which had received and sent over 25,350 BTC in total. The report found that FCoin's cold wallet was empty at the time of the insolvency announcement, with the final 54 BTC drained on February 13, 2020 — four days before Zhang's public admission. Fund flows were traced two to three hops to at least 11 exchanges including OKEx, Huobi, Binance, and Gate.io. Activity reportedly stagnated between May and August 2019 before spiking in September 2019 through the months preceding the shutdown. The report noted that Huobi — Zhang Jian's former employer — received the largest share of the traced funds. AnChain.AI stopped short of a definitive conclusion, stating: 'Only the FCoin team would know for sure' whether the shutdown was due to technical difficulties or a planned exit. The report presented the findings as circumstantial. No law enforcement agency has filed formal charges against Zhang Jian as of available records.","heading":"Exit Scam Allegations and On-Chain Analysis","severity":"critical","sources":[{"credibility":2,"name":"FCoin Exchange Shutdown: Technical Difficulties or Planned Scam? — AnChain.AI on Medium","type":"on_chain","url":"https://anchainai.medium.com/fcoin-exchange-shutdown-technical-difficulties-or-planned-scam-b898559ca843"},{"credibility":1,"name":"Error or Plunder? Report Suggests FCoin Purposely Moved Customer Bitcoin Since 2019 — CoinDesk","type":"news_article","url":"https://www.coindesk.com/markets/2020/02/26/error-or-plunder-report-suggests-fcoin-purposely-moved-customer-bitcoin-since-2019/"},{"credibility":2,"name":"Error or Plunder? Report Suggests FCoin Purposely Moved Customer Bitcoin Since 2019 — Yahoo Finance","type":"news_article","url":"https://finance.yahoo.com/news/error-plunder-report-suggests-fcoin-050000094.html"}]},{"content":"Following the insolvency announcement, affected FCoin users — some of whom had held life savings on the platform — formed multiple rights activist groups. A group of users traced and confronted Zhang Jian's family members, including his wife, aunt, and parents-in-law. According to reports, the family sought refuge at a police station; activists responded by blockading all three entrances and taking shifts to prevent the family from leaving, demanding compensation. FCoin pledged to establish an 'interim committee' (Community Transitional Provisional Commission) to oversee a relaunch of FCoin and FMex websites and formulate an asset-to-debt or equity-sharing compensation plan. Subsequent analysis published by ChainCatcher suggested that even if FCoin restored its 2019-era trading volume and directed Zhang Jian's personal FT dividend income entirely toward repurchase, full repayment would theoretically take over 100 years. No credible verified repayment has been documented.","heading":"User Impact and Victim Response","severity":"critical","sources":[{"credibility":2,"name":"$130 Million FCoin's Insolvency: Angry Users Attacked CEO's Family Seeking Refunds — CryptoPotato","type":"news_article","url":"https://cryptopotato.com/130-million-fcoins-insolvency-angry-users-attacked-ceos-family-seeking-refunds/"},{"credibility":2,"name":"FCoin Restart Investigation: Where Will the Nearly $200 Million Debt Go? — ChainCatcher","type":"news_article","url":"https://www.chaincatcher.com/en/article/2058477"},{"credibility":2,"name":"Beating the Odds? Insolvent FCoin To Resume Operations And Attempt to Refund Users — CryptoPotato","type":"news_article","url":"https://cryptopotato.com/beating-the-odds-insolvent-fcoin-to-resume-operations-and-attempt-to-refund-users/"}]},{"content":"No formal regulatory enforcement action by the SEC, CFTC, or any other major securities or financial regulator against FCoin or Zhang Jian has been identified in available sources. FCoin operated primarily toward Chinese-speaking users during a period when China did not have comprehensive crypto exchange licensing requirements and the exchange had no publicly disclosed registration in a regulated jurisdiction. The absence of regulatory oversight meant affected users had no formal recourse mechanism. FCoin's primary operations are reported to have ceased as of early 2020, with the exchange inaccessible for normal withdrawals.","heading":"Regulatory and Legal Status","severity":"medium","sources":[{"credibility":2,"name":"FCoin Blames Poor Auditing for Shutdown, but Others Suspect Exit Scam — CoinTelegraph","type":"news_article","url":"https://cointelegraph.com/news/fcoin-blames-poor-auditing-for-shutdown-but-others-suspect-exit-scam"}]},{"content":"FCoin's trans-fee mining model was widely copied in 2018, with OKEx announcing support for 100 exchanges adopting similar mechanisms and dozens of smaller platforms launching with variants of the model. Critics including Binance's Changpeng Zhao argued early on that the model was structurally unsustainable, functioning as an indirect token sale rather than a genuine exchange revenue model. The collapse of FCoin in February 2020 is widely cited in industry literature as a definitive demonstration of the model's failure, as the obligation to pay out 80% of fee revenue to token holders while also backstopping the token's value proved irreconcilable once token prices declined.","heading":"Industry Legacy","severity":"medium","sources":[{"credibility":2,"name":"Inside the $130 million meltdown of China's FCoin exchange — Decrypt","type":"news_article","url":"https://decrypt.co/20291/inside-the-130-million-meltdown-of-chinas-fcoin-exchange"},{"credibility":2,"name":"Trans-Fee Mining Bubble Finally Popped as FCoin Goes Bankrupt — Finance Magnates","type":"news_article","url":"https://www.financemagnates.com/cryptocurrency/exchange/trans-fee-mining-bubble-finally-popped-as-fcoin-goes-bankrupt/"},{"credibility":1,"name":"FCoin Crypto Exchange Draws Fire for Controversial Business Model — CoinDesk","type":"news_article","url":"https://www.coindesk.com/markets/2018/06/22/fcoin-crypto-exchange-draws-fire-for-controversial-business-model"}]}],"sources_used":[{"credibility":1,"name":"Crypto Exchange FCoin Insolvent After Revealing Up to $130M Bitcoin Shortfall — CoinDesk","type":"news_article","url":"https://www.coindesk.com/markets/2020/02/17/crypto-exchange-fcoin-insolvent-after-revealing-up-to-130m-bitcoin-shortfall"},{"credibility":1,"name":"Insolvent Exchange FCoin Had Bitcoin Outflow Problems Just Two Months After Launch — CoinDesk","type":"news_article","url":"https://www.coindesk.com/business/2020/02/21/insolvent-exchange-fcoin-had-bitcoin-outflow-problems-just-two-months-after-launch-report/"},{"credibility":1,"name":"Error or Plunder? Report Suggests FCoin Purposely Moved Customer Bitcoin Since 2019 — CoinDesk","type":"news_article","url":"https://www.coindesk.com/markets/2020/02/26/error-or-plunder-report-suggests-fcoin-purposely-moved-customer-bitcoin-since-2019/"},{"credibility":1,"name":"FCoin Crypto Exchange Draws Fire for Controversial Business Model — CoinDesk","type":"news_article","url":"https://www.coindesk.com/markets/2018/06/22/fcoin-crypto-exchange-draws-fire-for-controversial-business-model"},{"credibility":2,"name":"Inside the $130 million meltdown of China's FCoin exchange — Decrypt","type":"news_article","url":"https://decrypt.co/20291/inside-the-130-million-meltdown-of-chinas-fcoin-exchange"},{"credibility":2,"name":"China's FCoin plans to reopen, return $130 million in missing Bitcoin — Decrypt","type":"news_article","url":"https://decrypt.co/20747/china-fcoin-plans-reopen-return-130-million-missing-bitcoin"},{"credibility":2,"name":"Chinese Exchange FCoin Closes Down, Still Owes Users $125 Million — CoinTelegraph","type":"news_article","url":"https://cointelegraph.com/news/chinese-exchange-fcoin-closes-down-still-owes-users-125-million"},{"credibility":2,"name":"FCoin Blames Poor Auditing for Shutdown, but Others Suspect Exit Scam — CoinTelegraph","type":"news_article","url":"https://cointelegraph.com/news/fcoin-blames-poor-auditing-for-shutdown-but-others-suspect-exit-scam"},{"credibility":2,"name":"Trans-Fee Mining Bubble Finally Popped as FCoin Goes Bankrupt — Finance Magnates","type":"news_article","url":"https://www.financemagnates.com/cryptocurrency/exchange/trans-fee-mining-bubble-finally-popped-as-fcoin-goes-bankrupt/"},{"credibility":2,"name":"FCoin Exchange Shutdown: Technical Difficulties or Planned Scam? — AnChain.AI on Medium","type":"on_chain","url":"https://anchainai.medium.com/fcoin-exchange-shutdown-technical-difficulties-or-planned-scam-b898559ca843"},{"credibility":2,"name":"Error or Plunder? Report Suggests FCoin Purposely Moved Customer Bitcoin Since 2019 — Yahoo Finance","type":"news_article","url":"https://finance.yahoo.com/news/error-plunder-report-suggests-fcoin-050000094.html"},{"credibility":2,"name":"$130 Million FCoin's Insolvency: Angry Users Attacked CEO's Family Seeking Refunds — CryptoPotato","type":"news_article","url":"https://cryptopotato.com/130-million-fcoins-insolvency-angry-users-attacked-ceos-family-seeking-refunds/"},{"credibility":2,"name":"Unravelling The Mystery: Report Shows FCoin's $130M Insolvency Started From Its Early Days — CryptoPotato","type":"news_article","url":"https://cryptopotato.com/unravelling-the-mystery-report-shows-fcoins-130m-insolvency-started-from-its-early-days/"},{"credibility":2,"name":"FCoin Restart Investigation: Where Will the Nearly $200 Million Debt Go? — ChainCatcher","type":"news_article","url":"https://www.chaincatcher.com/en/article/2058477"},{"credibility":2,"name":"Former Huobi CTO Zhang Jian Launches FCoin — CoinTelegraph press release","type":"news_article","url":"https://cointelegraph.com/press-releases/former-huobi-cto-zhang-jian-launches-fcoin-gaining-investments-from-top-venture-capital-firms"},{"credibility":2,"name":"An Important Update From Zhang Jian — FCoin Asia on Medium","type":"official","url":"https://medium.com/@fcoin_asia/an-important-update-from-zhang-jian-b98737ddb7f9"},{"credibility":2,"name":"Beating the Odds? Insolvent FCoin To Resume Operations — CryptoPotato","type":"news_article","url":"https://cryptopotato.com/beating-the-odds-insolvent-fcoin-to-resume-operations-and-attempt-to-refund-users/"},{"credibility":2,"name":"Chinese Crypto Exchange Start-Up FCoin Receives Funding From Danhua, Node Capital — China Money Network","type":"news_article","url":"https://www.chinamoneynetwork.com/2018/05/22/chinese-crypto-exchange-start-up-fcoin-receives-funding-from-danhua-node-capital"}],"summary":"FCoin was a cryptocurrency exchange launched in May 2018 by Zhang Jian, former CTO of Huobi, which pioneered the controversial 'trans-fee mining' model that briefly propelled it to claim the highest trading volume of any exchange globally. In February 2020, Zhang Jian publicly admitted the exchange was insolvent, citing an undetected system error that had over-issued mining rewards since mid-2018, leaving a shortfall estimated at 7,000–13,000 BTC (approximately $125–130 million). No credible compensation has materialized as of available records, and on-chain analysis firms raised allegations of a deliberate exit, though no definitive legal finding has been made.","timeline":[{"date":"2018-05-01","event":"FCoin exchange launched by Zhang Jian, former Huobi CTO, introducing the 'trans-fee mining' model that reimbursed 100% of trading fees in FT tokens.","source":"CoinDesk — FCoin Crypto Exchange Draws Fire","source_url":"https://www.coindesk.com/markets/2018/06/22/fcoin-crypto-exchange-draws-fire-for-controversial-business-model"},{"date":"2018-06-26","event":"FCoin reported peak 24-hour trading volume exceeding $17 billion, claiming to surpass Huobi, OKEx, and Binance combined. Industry competitors and analysts raised widespread skepticism about wash trading.","source":"Decrypt — Inside the $130 million meltdown","source_url":"https://decrypt.co/20291/inside-the-130-million-meltdown-of-chinas-fcoin-exchange"},{"date":"2018-07-19","event":"FCoin's Bitcoin holdings peaked at approximately 13,272 BTC according to subsequent PeckShield on-chain analysis.","source":"CoinDesk — Insolvent Exchange FCoin Had Bitcoin Outflow Problems","source_url":"https://www.coindesk.com/business/2020/02/21/insolvent-exchange-fcoin-had-bitcoin-outflow-problems-just-two-months-after-launch-report/"},{"date":"2018-08-31","event":"FCoin's Bitcoin balance had fallen to approximately 3,759 BTC — a loss of nearly 10,000 BTC in six weeks. PeckShield later concluded the cashflow problem may have emerged at this time.","source":"CoinDesk — Insolvent Exchange FCoin Had Bitcoin Outflow Problems","source_url":"https://www.coindesk.com/business/2020/02/21/insolvent-exchange-fcoin-had-bitcoin-outflow-problems-just-two-months-after-launch-report/"},{"date":"2019-06-01","event":"FCoin established a complete back-end auditing system approximately mid-2019, according to Zhang Jian's own admission — over a year after the platform launched and after the reward over-issuance error had been running.","source":"CoinDesk — FCoin Insolvent After Revealing Up to $130M Shortfall","source_url":"https://www.coindesk.com/markets/2020/02/17/crypto-exchange-fcoin-insolvent-after-revealing-up-to-130m-bitcoin-shortfall"},{"date":"2019-09-01","event":"AnChain.AI's analysis found a spike in Bitcoin movements out of FCoin's cold wallets beginning in September 2019, five months before the insolvency announcement.","source":"AnChain.AI — FCoin Exchange Shutdown: Technical Difficulties or Planned Scam?","source_url":"https://anchainai.medium.com/fcoin-exchange-shutdown-technical-difficulties-or-planned-scam-b898559ca843"},{"date":"2020-02-10","event":"FCoin announced a burn of 720 million FT tokens. Within days, the exchange suspended all trading and withdrawals citing 'technical upgrades.'","source":"Decrypt — Inside the $130 million meltdown","source_url":"https://decrypt.co/20291/inside-the-130-million-meltdown-of-chinas-fcoin-exchange"},{"date":"2020-02-13","event":"The final 54 BTC were drained from FCoin's primary cold wallet, according to AnChain.AI's on-chain analysis — four days before the public insolvency announcement.","source":"CoinDesk — Error or Plunder?","source_url":"https://www.coindesk.com/markets/2020/02/26/error-or-plunder-report-suggests-fcoin-purposely-moved-customer-bitcoin-since-2019/"},{"date":"2020-02-17","event":"Zhang Jian published 'FCoin Truth,' publicly admitting the exchange was insolvent with an estimated shortfall of 7,000–13,000 BTC (approximately $67–130 million). He denied hacking or intentional fraud and attributed the deficit to a data error and poor auditing.","source":"CoinDesk — FCoin Insolvent After Revealing Up to $130M Shortfall","source_url":"https://www.coindesk.com/markets/2020/02/17/crypto-exchange-fcoin-insolvent-after-revealing-up-to-130m-bitcoin-shortfall"},{"date":"2020-02-21","event":"PeckShield published its on-chain report revealing FCoin's Bitcoin outflow problems as early as July 2018, two months after launch.","source":"CoinDesk — Insolvent Exchange FCoin Had Bitcoin Outflow Problems","source_url":"https://www.coindesk.com/business/2020/02/21/insolvent-exchange-fcoin-had-bitcoin-outflow-problems-just-two-months-after-launch-report/"},{"date":"2020-02-26","event":"AnChain.AI published on-chain analysis tracing fund flows from FCoin's cold wallets to multiple exchanges including Huobi, OKEx, Binance, and Gate.io, raising but not conclusively proving exit scam allegations.","source":"CoinDesk — Error or Plunder?","source_url":"https://www.coindesk.com/markets/2020/02/26/error-or-plunder-report-suggests-fcoin-purposely-moved-customer-bitcoin-since-2019/"},{"date":"2020-03-01","event":"Zhang Jian resurfaced promising to reopen FCoin and return funds, forming an 'interim committee' (ICPC) to oversee relaunch and compensation. No concrete timeline or verified repayment followed.","source":"Decrypt — China's FCoin plans to reopen, return $130 million in missing Bitcoin","source_url":"https://decrypt.co/20747/china-fcoin-plans-reopen-return-130-million-missing-bitcoin"},{"date":"2021-01-01","event":"FCoin team announced preparations to restart the platform and process refunds, proposing two debt repayment mechanisms including a trading-volume-based unlocking scheme. Subsequent analysis indicated full repayment under the proposed structure would take over 100 years.","source":"ChainCatcher — FCoin Restart Investigation","source_url":"https://www.chaincatcher.com/en/article/2058477"}]},"v":1}

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