Team Behind Foin Token Scheme Explains Catastrophic Price Drop

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The Foin project — which is behind the eponymous token that sunk following its supposed unlocking period at the beginning of January — has released an official explanation of the token’s tanking after the purported price pump.Cointelegraph reported in an investigation on Dec. 30, 2019 that we had found a trail of suspicious movements in Foin’s (FOIN) price history, as well as a web of suspect business relationships associated with the coin’s development.As revealed by our investigation, there are multiple entities associated with Foin, like the Swiss-registered Foin Foundation, crypto payments firm and wallet provider FoPay, and AliExchange. FoPay is owned and operated by Ukraine-registered company "Foins Blockchain Limited Liability Company."

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