Russian cryptocurrency exchange Livecoin announced the closure after an abrupt closure at the end of December 2020.
According to the Livecoin website, the exchange is unable to continue operating due to the financial and technical damage caused by the alleged attack on its servers by the end of 2020. Livecoin announced the closure on 16 January on Twitter and linked its new ‘Livecoin’ . domain. News: The previous Livecoin domain Livecoin.net is not available when it is posted.
Livecoin has stated that they want to “pay the remaining money” to their customers and asks users to contact the exchange via email to complete the confirmation. To initiate an action, Livecoin users must provide a username and registration date on the platform.
The exchange promised to provide detailed instructions in the response, indicating that demands for payment will be accepted until March 17, 2021. “After this date, no new orders will be accepted,” Livecoin said. Oslo Børs did not specify when Livecoin expects to return its customers.
Livecoin also warned users against unofficial Livecoin chat groups that can spread false information and try to trick users. “There is a high risk of joining these groups because we [do not] have groups,” Livecoin wrote, claiming that the site is the only source of official information. The company also said it was being investigated.
Livecoin did not immediately respond to a request for comment from Cointelegraph.
As previously reported, Livecoin ceased operations on December 24, claiming that the exchange was subjected to a “carefully planned attack” that resulted in it losing control of all servers.
As part of the incident, hackers managed to take over the infrastructure of Livecoin and adjust the prices on the stock exchange to abnormally high values. As such, it was reported that Livecoin traded over $ 300,000 in bitcoin (BTC), while the market price was around $ 24,000 at the time. Some users later suggested that “hack” from Livecoin could be an exit scam.
As Livecoin encourages users to turn their backs on media channels, potential customers are struggling to get their money back using the unofficial Telegram Livecoin group. Some reporting users speculated that the latest Livecoin announcement could have been made by hackers, while others have lodged complaints with local police.
Some users have refused to submit their personal data to Livecoin for privacy reasons. An alleged exchange user provided a list of data allegedly required for the Livecoin payment process, including passport scanning, residence information, high-resolution selfies, high-resolution selfies, first transaction data on the exchange and devices used on the platform, and videos first exit Incoming transaction.