A few days ago, there was a piece of news that the stfil team, the second largest pledge platform on FIL, was shut down by the Changde police in Hunan, China.
Most people may not be interested in fil, let alone stfil.
This is a platform that provides mortgage loans to fil holders, and in the past it could even give fil holders a return rate of more than 15%.
There are more than 5 million fils on this platform.
Based on the current currency price, it is equivalent to about 50 million US dollars.
After the incident, stfil officials have actively intervened in the matter, but it seems to be of no use at the moment.
The reason is very simple. This time the Chinese police’s action was not just to detain people, but more importantly to transfer the money away.
The director went to FIL's blockchain browser to check and found that the balance in the address that originally belonged to the official STFIL had been reduced to zero.
There are only more than 90,000 fils left in another contract address.
However, a new address created on April 6 received more than 4.2 million fils in a short period of time.
According to the Chinese police's disposal plan for currency-related assets, these more than 4 million FILs will most likely flow into the secondary market for cash, which also means that FIL, which already has fragile liquidity, will soon face a selling pressure of around US$40 million.
Currently the price of $FIL is only around 8.5, how low will it fall by then?
