After the disappearance of 7000 bitcoins… FCoin platform will resume operations soon
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Answer After the disappearance of 7000 bitcoins… FCoin platform will resume operations soon
After the temporary withdrawal from the Chinese platform FCoin, the latter decided to resume its work again.
FCoin has created a new temporary committee to resume operations, starting with reopening its website and issuing a recovery plan to affected users.
FCoin CEO Zhang Jian revealed earlier this month that the platform was no longer able to handle user withdrawal requests after a combination of technical and hesitation errors led to a shortfall of 7,000-13,000 BTC.
Founder of the exchange platform FCoin: We are unable to pay 7,000 to 13,000 BTC to customers
Despite all this, and in pursuit of the promise to revive its business and services, FCoin announced yesterday that the current team will use optimal technical solutions to resume operations of the FCoin and FMex sites, and then hand it over to the new temporary committee.
Read:The ICON project enables interoperability across its main network
The committee is reportedly made up of representatives from the local community and one of their initial tasks is to create a user-asset-to-debt or equity-sharing plan that FCoin follows to recover all affected users.
FCoin also claims that its operations will be essentially controlled by the community going forward.
The road to recovery?
While the recent announcement of plans to get back on track is sure to excite affected FCoin users.
However, it must be noted that there is not enough information available about how the platform plans to recover its losses and pay the dues to investors going forward.
If the proposed “asset-to-debt or equity-sharing” scheme fails to provide adequate guidance, there is the possibility of facing a situation similar to what is currently happening for Cryptopia.
The hacked platform Cryptopia continues its quest to get back investors’ money
As plans to get back on track eventually failed with users nurturing any hope of their money back after opening Cryptopia for a few weeks.
Read:Stay tuned for more volatility in the cryptocurrency market…Learn why!
The platform subsequently filed for bankruptcy protection in the US, while no recovery plans have yielded tangible results.
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Report: The rights of users of the “Cryptopia” platform exceed 2.6 Million dollars
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