Beijing Lian'an released an analysis article today that believes that FCoin was born in 2018, and the "transaction is mining" model has made it the most popular exchange for a time. However, judging from the change in the total amount of bitcoin stored in the cold wallet 12rU7whLERNrkDb8bTe9VJJSKZvCXy7dj7, the crisis may have surfaced that year.
Beijing Chainan reproduced the change curve of the total amount of bitcoin in this cold wallet through the ChainsMap monitoring system. It is clear that in the first half of 2018, a large number of users recharged the exchange, and converged to the hot wallet to eventually pool in this cold wallet. . On July 22, 2018, the wallet ushered in a peak, with a total of 11,509 BTC, but since then it has shown a downward trend as a whole. After the first quarter of 2019, the bitcoin stock at this address is actually much less than the peak period. In its early 2000s, it was basically empty from September to October 2019, leaving only dozens of bitcoins. Therefore, if there are operational problems, they may have appeared in the second half of 2018, which is also in line with the self-report of the founder of FCoin and the timeline of the FT price plummeting.