Altcoins Talks - Cryptocurrency Forum
Learning & News => News related to Crypto => Topic started by: Freemind on December 25, 2020, 10:22:18 AM
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I just went to their website to read some things that I had pending and I have found this:
(https://i.imgur.com/SsjE3Vq.png)
Be very careful if you trade there and try to get the funds you have.
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Thanks for the warning. I did not notice that the hacking of this exchange had a strong impact on the cryptocurrency market, but for those who traded on the exchange, this event is not very pleasant. Such hacks have become more frequent in recent days.
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You welcome @Gravatai. Even Coinmarketcap has already spread the news and from what I see now, Livecoin has changed the warning that they had before and they are returning or trying to return to "normal before this attack". It is not a high volume exchange, but this type of attack impacts the entire community.
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I don't think this attack on livecoin has much effect on crypto because as at the of writing this post BTC is trending at $24345.
However, It is a petty that hackers are still finding their ways into some of these exchanges despite some security effort put on by these exchanges. I hope they will refund the hacked funds to it's users to regain heir reputation.
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I was not referring to a negative impact on the price of Bitcoin @Bobcrypto, I was referring to the damage it does to the image of cryptocurrencies in general because it is a security issue. And I agree with you, I hope they capture those responsible and can return all funds to the affected users.
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As it is all suspicious, over the past few months this is not the first exchange that is experiencing problems, before that Kucoin was hacked and then OkeX had problems :o
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I don't use Livecoin because I choose a trusted exchange. This notification will alert Livecoin members to always be careful :)
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I've never used it either, but I know people who do (or they did). Now I am curious if it has been a real attack planned for months as they say or is it an exit scam.
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I've never used it either, but I know people who do (or they did). Now I am curious if it has been a real attack planned for months as they say or is it an exit scam.
What if it's an exit scam? can the livecoin be sued?I have an account there but it is not used for trading
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Well I don't think there would be any problem in suing the company, the funny thing is that I've been looking for information about its owner/s for a while and I can't find anything, the only thing I find is:
Founded in 2013 by DELTA E-COMMERCE LTD from London, UK. Their servers are located in Metairie, Louisiana, USA.
Domain name registered in : 2014-03-04T22: 46: 13
Registrar: NAMECHEAP INC
But I can't find anything about those directly responsible. I'll keep looking in case I find something else.
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Thanks for alerting us, I just hope the funds of the users of livecoin exchange are safe, although I don't make use of this exchange because what I have come to understand is that small exchanges are more prone to hacks than larger exchanges,I also know know exchange is safe cause they could get hacked anytime and we might just loose our funds these is why it's better for our crypto to remain in our private wallet other than crypto exchange wallets, remember not your keys not your coins.
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I just went to their website to read some things that I had pending and I have found this:
(https://i.imgur.com/SsjE3Vq.png)
Be very careful if you trade there and try to get the funds you have.
Thanks for the warning I really appreciate I will try and withdraw my funds from therr
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You welcome @Abubakar56. Get your funds out of there as fast as you can. And remember to save all emails (and keep a copy of the ones you send them) and take screenshots of what may happen.
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It is necessary not to keep money in bad exchanges. Bad exchanges like this always have the potential to hack. Major exchanges are more secure. :-[
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@codehash I guess the security on the big exchanges is better, they have a reputation to uphold. But no matter how big and safe an exchange is, I would never leave my coins/tokens, I always keep them myself, if someone steals them it will be my fault, if the exchange is hacked, it can take months until you get your funds back, if they give them back to you.
Not your keys, not your coins.
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Yikes! Probably reminds us all only to use reputable exchanges. :D
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@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.
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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. ::)
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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.
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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.
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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
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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.
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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.