According to the latest Fcoin announcement, Zhang Jian said: The biggest problem facing FCoin at present is not that the system cannot be restored, but the problem that the capital reserve cannot be paid by users. The internal problems and technical difficulties faced are the result of financial difficulties. The size of the non-cashable is expected to be between 70,13,000 BTC (valued at approximately 68.6 million to 127 million US dollars). The cause of this incident was neither external hacking nor internal money running, but data error + decision error. This is a problem that is a little too complicated to be explained in a single sentence, the time span is also large, and the two story development lines advance and affect each other at the same time, leading to the final outcome.
Zhang Jian also said: "At present, I am processing all mail withdrawals, so the efficiency is very low. Mail withdrawal processing will be divided into two stages, the current stage and the long-term stage. I expect the current mail withdrawal processing will last 2-3 months. As the current assets are not enough to pay the users, I will deal with the principle of allowing as many users to withdraw as possible to minimize the number of people affected. "
In addition, Zhang Jian said that he had decided to switch tracks and start again, and use the profits of his new project to compensate everyone for his losses. Any significant progress on new projects will be disclosed through public channels. Once the new project is on track, he will begin the long-term mail withdrawal process, which may take 1-3 years. For the other losses of FT and FMEX investors, they are also willing to use the profits of the new project to compensate. The specific calculation method will be discussed in the future.