| Founded | 2018 |
|---|---|
| Closed | 2020 |
| Country | China |
| Sector | Crypto |
| Collapse type | Fraud Explosion |
| Founder | Zhang Jian |
FCoin
"FCoin's 'trans-fee mining' innovation was a debt time bomb that exploded, stranding $130M in user funds."
Sudden collapse triggered by fraud exposure
Key Events Timeline
FCoin, founded by former Huobi CTO Zhang Jian in 2018, pioneered the 'trans-fee mining' model that rewarded traders with FT tokens for paying fees, artificially inflating volumes.
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