Tron CEO, Justin Sun has taken to twitter to express grief over the liquidation of cryptocurrency exchange, FCoin.
Justin Sun who recently had his long-awaited million-dollar lunch with the business tycoon, Warren Buffet expressed dissatisfaction with how events turned out for Fcoin. He took to Tweeted and said;
“The news of @FCoinOfficial overwhelmed me with grief. ZhangJian is my close friend. I can relate to the hardships he has gone through creating his business, and I feel extremely sorry for the users’ losses, ” said Justin Sun.
“Life is sometimes ruthless while the #crypto world is full of love.” The CEO added.
FCoin Liquidation Saga
The matter is that the Chinese crypto exchange, Fcoin recently revealed in a blog post that its liquidation was imminent and that it might not be able to pay about 7,000-13,000 BTC belonging to its customers. Moreover, the loss counts for around $125 million at the time.
Consequently, Fcoin customers had to wake up a bitter truth on Tuesday, 18th February 2020 as they realized that the platform which holds their bitcoins faces evident liquidation and that their funds might have been lost in the events preceding such a fold up of business. However, to some of the customers who seemed to have invested(in enormous sums) all they had, they may never be able to wake up from this pitiable nightmare!
In a “tell-all” blog post announcing the misfortune, the exchange’s CEO, Zhang Jian, explained that such a predicament happened due to financial difficulties resulting in internal problems and technical difficulties. Although, At that time, Zhang states that though they may restore the system, yet, FCoin’s customers could not bear the cost of doing so.
1k BTT For Fcoin Customer To Register With Poloniex
Now as Justin Sun shared moments of grief with both Fcoin’s dissolved administration and users, he seemed to offer Fcoin’s customers a hand of help, and friendship. Justin, in his tweet, promised to give 1k BTT For Fcoin Customer who would sign up with the crypto exchange, Poloniex. According to Justin Sun,
“I contacted @Poloniex and we decided to launch a campaign. All Fcoin user who signs up on https://t.co/R8Da6OGwNv (https://t.co/gLpUVw66wR) can claim 1000 $BTT. Despite the small amount, this is our token of gesture to recover the loss for users of the #crypto world!”
Community Cirticising Justin Gets Criticized For His “Gesture”!
Moreover, Justin Sun’s announcements quickly met with stiff opposition and criticism. Nevertheless, the major insinuation was that Justin Sun’s proclaimed ” gesture” was a mere marketing strategy to gain Fcoin’s customers, many of which are considering alternatives at the moment.
Additionally, many respondents seem to have a convergent opinion as to the fact that Justin was merely playing marketing stunt by offering BTT For Fcoin Customer.