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Livecoin announces its closure

The Russian exchange was attacked by hackers in December

After being the subject of a cyber attack in December, theexchange di cryptocurrency Livecoin has announced its definitive closure. Also affirming its intention to compensate damaged customers.
According to the management of the Russian trading platform, there would be no way to continue the business precisely in consideration of the serious damage done by the attackers, both from a technical and financial point of view. The announcement in question dates back to !.

livecoin exchange hacked - Livecoin announces its closure

Outlines of the attack on Livecoin

The attack that originated Livecoin's decision took place at the end of last December. On the 23rd of the month, when Bitcoin was crossing the threshold of 20 thousand dollars, its price on the platform has even risen to 450mila. An absolutely unprecedented thing. So much so as to push Livecoin to announce on Christmas Eve that it has completely lost control of a part of the company's servers due to a carefully planned attack.
According to rumors, the loot of hackers would amount to 106 Bitcoins, 380 Ether, 236 BCH 2015. XRP, 66,8 million DOGE, as well as unspecified amounts in tokens USDT and ERC-20. The funds relating to Ethereum they were then converted to DAI on the decentralized exchange Uniswapwhile on Kucoin instead, part of the remainder was sent.

What will happen now?

Users now have until March 17 in order to obtain refunds. Which, however, promise to be already complicated. It was Livecoin that stated that fake groups on Telegram and other channels are already at work. The exchange then asked users to turn to, the only official reference for those who want information. Furthermore, praying they do not entrust their money to anyone, as it is not absolutely necessary to pay in order to obtain refunds. In fact, it is sufficient to send a request to that effect and follow the procedure indicated. Clear the intent to avoid the insult, after the damage suffered. However, it should be emphasized that some users have already complained about the failure of the e-mail address provided for this purpose by Livecoin.

Confusion reigns

To increase the confusion around the story are some reports. Which claim that the only proof of control by the exchange platform of the site is the Twitter post we have already mentioned. While other users claim to be able to send refund requests following the exchange's invitation, having in return a request to provide information. That is the details of the first deposits made, the scanned copy of identity cards issued by the government, the proof of the address where you reside, the device used in order to have access to your Livecoin account, a sheet certifying the registration to the platform with the official seal of the exchange, a selfie with your identity card and proof of the origin of the funds.

Is a new scam in sight?

The requests in question have prompted some to affirm the fear that it may be a new scam. By suggesting to the interested parties to present in turn a request that could clear the field of any misunderstanding, that is one proof of ownership and detailed information on what actually happened to Livecoin.
In short, the mystery seems destined to characterize the story, so much so as to push some to overshadow the hypothesis that it was the same managers of the platform who organized a real scam to the detriment of customers.

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Dario Marchetti

I have a degree in Literature and Philosophy from the Sapienza University of Rome, with a thesis on the eastern border of Italy at the end of the First World War. I have collaborated with several sites on many issues and led the work group that published the official CD-Rom of the SS Lazio "History of a love" and "Photographic History of Magical Rome".

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