Bitcoin Forum

What happened::

I want to share some expirience I've had with Livecoin exchange. On August 7th I received 2.138 ETH dividends from TaaS fund. And (unfortunately) decided to invest it in different altcoins via Livecoin exchange.

So I obtained ethereum deposit address from Livecoin 0x85E552d5ae40A1305d9E5d4bA9ac43e9E8053D3E and sent those coins. After couple hours I've notices that my coins was not credited. I checked the blockchain explorer and made sure everything was fine with the transaction - https://etherscan.io/address/0x85e552d5ae40a1305d9e5d4ba9ac43e9e8053d3e . After that I created the ticket on exchange internal support desk and waited more than a day for a answer.

Support answered that they do not accept ETH deposits from contract addresses. Ok, I understand that this is my fuckup(although I did not knew that address I was sending coins from was contract address), but could you please send those coins back to address it was originated from?

The answer from support was:

Hello.
Unfortunately this is not possible, please contact coin developer for this issue.

I start to investigate this issue and find out that there is no technical problem with receiving ether from contract address, other exchanges accept them without any limitation. So Livecoin just stole my money and when I asked them to substantiate their actions they just stoped answering my questions.

Scammers Profile Link:
-

Reference Link:

Amount Scammed:
2.138 ETH / more than 600$
Payment Method:
ethereum
Proof of Payment:
https://etherscan.io/address/0x85e552d5ae40a1305d9e5d4ba9ac43e9e8053d3e
PM/Chat Logs:
see4u:
what do you mean not possible??? why its not possible?
you control this wallet and you have access to this funds. i can understand if you don't want credit my balance but if you don't return this coins its just plain stealing. i'm sure that ethereum developers does not have access to any address and coins it contains.
if you can't send me this funds than provide me with private key for this wallet so i could do this myself.
10.08.2017 14:08 Support (assistant):
Hello.
Unfortunately this is not possible, please contact coin developer for this issue.
10.08.2017 11:04 see4u:
in this case please return my coins back
09.08.2017 19:03 Support (assistant):
Hello.
We cannot accept transactions from contract addresses http://prntscr.com/g6eoim
08.08.2017 21:22 see4u:
the address I have sent eth from is 0x6d3ff08a3c578ce57eab02c5d6c0c3b028b72574

but if it's possible I would like to receive it on my another wallet - 0x2e574a9c3f0ac22ac6970657c819853441003c48
08.08.2017 17:00 see4u:
hello

i have sent 2.138 ether to fill my balance. address 0x85E552d5ae40A1305d9E5d4bA9ac43e9E8053D3E
it was several hours ago and coins still not deposited.

transaction is visible on blockchain explorer https://etherscan.io/address/0x85e552d5ae40a1305d9e5d4ba9ac43e9e8053d3e
Additional Notes:

So I have couple conclusions about this situation.

Livecoin is exchange of thieves and scammers.

They do not care about their customers and don't feel obligated to answer customer's questions concerning money loss.

I think that in any complicated situation they will scam their customer and do nothing to help recover lost funds.


By the way I tried to find out who they are and found zero information about their origin, where they located or at least registered. I send them request with this questions but they didn't answered.

So I strongly DO NOT RECOMMEND to use this exchange.

So you sent your coins to strangers. Perfectly untraceable strangers. Location and registration unknown.

Why does it matter where coins come from? Contract wallet or otherwise, they are still coins. This is a redundant feature of this coin. All these contract versus account caveats make trading and investing in it susceptible to costly errors.

Granted you were forewarned about this restriction which seems to be the case in the image link you included above but I still find it hard to understand how those coins are forever lost and why you are being advised to contact the coin developer.

Livecoin can't be termed as complete scammers here you did agree it was your fault but this is a protocol of most exchanges they do make lot of money from mistakes like these but you can't do anything. If something is against their terms nothing can be done.
However there is a solution you contact the people from where you sent those eth most of the time it get's refunded if not there is nothing you can do about it.

That's true, but I do not see any reason why they can't give my money back. Is it so hard to make a transaction?

Ok i understood your issue i searched all transactions received to the address you sent and searched yours i see the transaction has successfully credited to livecoin. Same had happened with me when i was withdrawing from an exchange to another and the other exchange address was a contract address. Hitbtc from where i withdrew got the funds back and they refunded me but over here the transaction was successful.
Now if you ever had a account on coinbase you might have seen don't send mining rewards or from contract i did try that and it didn't process even when coinbase got the amount. This maybe related to in terms of support maybe their wallet doesn't support otherwise it would have processed it.

As I stumbled upon this when I was anxiously waiting for my ETH transaction from Bittrex to Livecoin to be confirmed.. how do we know if our sending address is an contract or account address in case that we transfer ETH from exchange to exchange?

That's actually hard to know unless you have a actual eth wallet as far as i know poloniex has a contract address , hitbtc has a normal one , I'm not sure about bittrex. What you can do is make a new wallet on myetherwallet it's free and safe just keep the utc file and password safe as fees for transferring eth isn't high at all withdraw to that wallet first and the wallet will automatically set the correct fees for that particular address it's better to pay a few extra cents than losing everything.

Thank you for your advice! So I can confirm that Bittrex to Livecoin works fine, therefore I assume Bittrex is using an account address for ETH.
But you are right, in future I will rather have a step in between and submit to my wallet first even if it costs a bit transaction fees.

It's quite ironic because Ethereum's main function is smart contracts and these guys seem to deny the fact that contracts are irreversible or even legitimate, yet they are making bank off listing them as a trading pair.

Completely unacceptabel behaviour. They've got the coins in their wallet, therefore they should credit you. Simple as that. It's not like Ethereum contracts are significantly more reversible than ethereum network transactions or anything.

And they're denying you a refund... All i can say is wtf.

How does ethereum coming from contracts make any difference to the balance of the receiver? This is the part I don't get. Livecoin obviously have received the correct sum of money in the deposit, and this isn't going to reversed(it's based on the same blockchain dammit).

Livecoin should at least refund the OP if they are not comfortable with crediting his account. Or even give OP the private key to that particular address, if they can't be bothered to send the ethereum back themselves ::)

And support just saying this is not possible unfortunately is just complete BS.

Hi all,
I send 0.1 ETH from Bitstamp exchange to Livecion exchange (ID: 0x377c970be7ba805933c04208234206014b104705dcb69ec1413dfe50bcfa0d46) and after 2 days still didn't came to my account. Did I also 'lost' it? I want to send 5 ETH but said let's first try it with 0.1 ETH which is still cca 30$.
Crypto currencies ans exchanges should make people's life easier, cheaper, safer that commercial banks but mostly I have negative experiences till now  :(

 

Hello
Today i bought ether on Bitstamp and send it to livecoin...its been around 8 hours and i didnt recive anything. Ethers were send to my Live coin ethereum wallet but than they were fowarded to another wallet, i belive theirs. Support doenst answer my tickets. What can i do, this is obvisuly some sort of scam.

Here are the proofs :

Bitstamp -> Livecoin

https://etherscan.io/tx/0xb0e210f44671c25d9e094827d716faf737d894d7eed39c902a667841bbd15d52

Here is my Livecoin ethereum wallet address :  https://imgur.com/a/b9WoJ

And here is some transaction from my Livecoin wallet to another wallet :

https://etherscan.io/address/0xae8c0300067c542ef4c0bfce1429a91aeca452c8

Here is the log of transaction : https://imgur.com/a/t1dc3


If you check recivers wallet you can see that its their wallet.
Iv send a PM to HeroCoin who works for them and iv oppened 3 tickets .
What else  can i do ?
around 7 ethers

livecoin is iqotions and otn stay away they will scam you

Thanks for this advise.

I am happy to read this thread because I was not aware of this problems. I sent a lot of transactions between exchanges and wallets and until now I had no problems but if there is no warning and no way to see a difference between normal and contract addresses is just good to send your money first to mew wallet and later to another destination like exchange. Acting like this you can be sure that there will be no problems with this transaction.

Few cents more paid in transaction fees but you can save thousands.

Same thing happened to me, fortunately I only transmitted a meager 0.1998 ETH but it's still about 150 USD they stole from me.

ETH showed up on my livecoin wallet address after a few seconds, so everything worked out fine, but it never showed up online. Then a few hours later someone transferred my ETH to another address.

https://etherscan.io/address/0xaa0ce64e90bdd03fcfd2abd0230c0a2f4dad0bcb

be careful if you use livecoin, better go on other exchanges

I had exactly the same issue... I bought €200 worth of ETH from an exchange and Livecoin refuses to credit the amount in any kind of way since it was sent through an "internal transfer" procedure.
They are not willing to solve this in any kind of way.
But they did find a way to move the amount received to their own internal wallet a few hours later.
They definately scammed me!