FCoin To Close Down, Owes Users Up To $125 Million

Chinese crypto exchange FCoin has paused trading as it may not be able to pay back between 7,000 to 13,000 BTC (about $67 million to $125 million) that it owes to its clients. Founder of Fcoin and former CTO of Huobi, Jian Zhang, published a post named "FCoin Truth," where he claimed that the exchange...

Altsbit Cryptocurrency Exchange to Shut Down After over $70M USD in Assets Stolen

Cryptocurrency exchange Altsbit said it plans to shut down its services in May 2020, after having lost “almost all funds” in a security breach on Feb. 5.Altsbit reported the security breach on Twitter on Feb. 6 and published withdrawal instructions 3 days later. The Italy-based exchange stated that the cryptocurrencies taken in the hack...