Livecoin exchange is under attack

[Froggy]

Yikes! Probably reminds us all only to use reputable exchanges.

[Freemind]

@Froggy that would be perfect, but there are times when users no longer know what to trust, as in the case of Mt. Gox years ago, and in which an exchange may be a fraudulent exit that appears to have a very good reputation.

[codehash]

I have no hope. I don't expect them to come back. I doubt them. They may have gotten the money and ran away. They tell people they've been hacked. I don't trust them. 

[ruhan007]

The attack took place nighttime, between December 23 and December 24, the attackers modified exchange rates to absurd values (15 times their ordinary values). RIP @livecoin_net apparently…prices x10 across the board as users scramble to a liquid coin that is still withdrawable.

[Freemind]

Unfortunately, I also think it is an exit scam. There are no more news, no statements, the administrators do not say anything... The worst as always are the users who lose their funds.

[Freemind]

It seems that in the end Livecoin decides to close its exchange... They affirm that they cannot continue with their activity due to financial problems and that they will try to return the funds to those affected. I honestly don't know what to believe about what Livecoin makers are saying. Here are the news in case you want more information.

Source: https://cointelegraph.com/news/after-alleged-hack-russian-crypto-exchange-livecoin-shuts-down

[codehash]

First they rob their own money. Then they say we were robbed. They say we will open after we are robbed. They say we close after a few weeks. It's always the same things. It is unwise to keep money in such exchanges.

[Freemind]

That seems @codehash but the money they have stolen (if it is an exit scam) is not theirs, it belongs to their users. With Cryptopia it was exactly the same, they said they were going to return the funds to the users but until today I think they have not returned absolutely anything.

Unfortunately we will never know what really happened, as I am sure they will not audit the servers, and if they do it will not be public. Which leads me to think with more certainty every day that it is an exit scam.