After many, many years crypto exchange Livecoin closes after alleged hack
Posted January 18, 2021 by Andrew Asmakov (Decrypt) Russian crypto exchange Livecoin has announced that it is stopping services after being hacked last month.A Livecoin quick brief:
After an alleged hack in December 2020, Russian cryptocurrency exchange Livecoin has announced that it is going to shut down, but that it will refund its customers.
“Our service has been damaged hard in technical and financial way. There is no way to continue operative business in these conditions, so we take a hard decision to close the business and paying the remaining funds to clients,
” says the announcement published on January 16.
The supposed attack on the exchange took place in the end of December 2020 when the price of Bitcoin was rallying past the $20,000 level. On December 23, when the largest cryptocurrency by market cap was changing hands at $23,000, its price on Livecoin soared to an unprecedented $450,000.
On Christmas eve the exchange said it fell victim to “a carefully planned attack” and lost control of some of its servers, warning customers to stop using its services. The hackers were said to have stolen 106 BTC, 380 ETH, 236 BCH, 567,012 XRP, 66.8 million DOGE, as well as still unknown amounts in USDT and ERC-20 tokens. The Ethereum-related funds were converted to DAI on decentralized exchange Uniswap, while a chunk of the remaining coins was sent to crypto exchange KuCoin. …
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What is Livecoin?
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Introducing you to the livecoin platform
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