Cryptocurrency Exchange Livecoin Stops Working
The December hack of the Livecoin cryptocurrency exchange led to negative consequences. The management of the exchange decided to suspend its activities and clients have to start withdrawing funds.
Recall that the servers of the cryptocurrency exchange were attacked on December 24, 2020. This caused a huge damage to the technical component of the platform.
Fraudsters have inflated prices. For example, ETH was traded on the platform for $15,000 instead of $600. Bitcoin was trading at $35,000 and not the market price of $23,000.
According to Livecoin.news, the investigation is ongoing. But in these conditions, there is no way to continue with the business. Therefore, the exchange team took part to close the business and pay funds to customers.
Applications for payments will be accepted until February 17, 2021. Users are also warned about cases of fraud in instant messengers, where, under the guise of team members, attackers offer to return funds from the exchanger subject to prepayment of the commission.