The Night Fcoin Disappeared: The End of Trading Mining
In 2018, Fcoin rapidly rose to prominence with its 'trading mining' model. The platform claimed: the more you trade, the higher the rebates, and all transaction fees would be refunded. This mechanism ignited market sentiment like a flame, with countless people trading day and night, scrambling for so-called high returns. Fcoin's trading volume once surpassed all major exchanges globally, seemingly entering a 'new era' in the crypto world.
However, the prosperity was merely an illusion. As the rebate model became increasingly unsustainable, the price of the FT token continued to decline, and the liquidity pool began to dry up. Until early 2020, the founder suddenly posted an admission: the platform faced a massive deficit, with a funding gap of several hundred million yuan, and withdrawals would be indefinitely suspended.
That night, users were completely panicked, with assets locked in their accounts, unable to withdraw. The once vibrant 'mining revolution' ultimately turned into a chaotic mess.
This history serves as a clear warning to everyone:
When a platform's profits depend on users continually investing, it is not far from collapse.
No matter how flashy the rules in the crypto circle, they cannot escape the most fundamental principle—profits must be real, and the model must be sustainable.
