The FOIN team claims that the price of the coin plummeted due to factors such as the Telegram scam, and the team was unable to make up for the loss

Previously, due to the closure of, the FOIN token team with a price close to zero issued the first announcement on January 10, explaining the FOIN token price plummeting, stating that FOIN supply and demand issues and the lack of proper financial education for early contributors to the project, And Telegram is full of a lot of FOIN is a series of reasons for the decline of the token. The FOIN team claims that once the tokens are traded on the exchange, the team cannot control the price, and no matter how much help the team gives, it cannot make up for any losses. According to a previous report by Cointelegraph in December 2019, there are multiple Foin-related entities, such as the Foin Foundation registered in Switzerland, crypto payment companies and wallet providers FoPay, and the AliExchange exchange. It is unclear which specific project related party issued the explanatory announcement. Earlier in September 2019, the unregulated British company closed and had converted investors' USD accounts into the cryptocurrency FOIN. FoPay, a Foin-related entity, acquired the crypto exchange AliExchange for $ 2.9 billion in December. After the completion of the acquisition, FOIN rose briefly, and in January 2020, due to the closure of, the FOIN price was close to zero.