Bitcoin Forum

Hello
How about Livecoin hack the 24 décember 2020 ?
Can we come together to organize a collective complaint ?
Somebody have information ?
Think
Thierry

Are you referring to LiveCoin.net? If so, looks pretty dire..


Seems to be a pretty small exchange, so you're unlikely to find people with the same intentions here. Apparently, some Redditors think that it was actually an exit scam.

https://www.reddit.com/r/CryptoCurrency/comments/kjjpdc/livecoinnet_hacked/
https://www.reddit.com/r/CryptoCurrency/comments/kje2qc/warning_btc_reached_142_000_usd_on_livecoinnet/

Damn, I think this is not a hack but an exit scam, the site does not have a good reputation anymore, I hope I'm wrong but I believe getting into exit scam is more probably than being hack.

https://www.coindesk.com/livecoin-crypto-exchange-hack

Question is, why it happened at this time?

Maybe they should be investigated so people will get their money.

Their account is not anymore active - https://bitcointalk.org/index.php?action=profile;u=462136.. so I don't think we can expect some reply from them.

Very bad reputation here on forum, scam'ish behaviour before (https://bitcointalk.org/index.php?topic=5159692.0) makes me assume that it was not a hack. Well ... crypto space will be better without them.

One of the exchange that I used during the beginning days of my entry into bitcoin and other cryptocurrency usage. Through this exchange only I learned about trading, and recently they tried to widen their market through promotion. In between it has got more accusations which has ruined its reputation. Now a hack will completely destroy the user funds and the Livecoin exchanges will also show bare hands.

Why people want to use small noname exchnages in 2021? Low fees will not save a lot of money

I don't think it's the fees.
I used to use small / noname exchanges (well... that was basically until 2017) for exchanging small / lesser known altcoins.
Of course, the main rule has always been to never leave big funds at exchanges, isn't it?

I'm sorry if you lost money there, but it's important to look up the reputation before using a website. Other pointed out that Livecoin exchange has a bad reputation on the forum and the representative is inactive. This means that you're unlikely to get the money back. But of course filing a complaint is still something you can do.
I used a bad Ethereum wallet back in the days and lost 0.6 ETH there due to an exit scam. Lots of people filed complaints as victims of cybercrime on some official US gov website and I believe even the name of the owner of that exchange was publicly available information. This didn't end with anything, unfortunately.

Yeah, I use livecoin and some small exchange like it to buy and sell a coin that didn't have a chance to list on big exchange before. You can get a chance to have a quick on some coin there due to it's volatility so some people preferred to still so that they can early buy some coin that still not listed on big exchange and have huge profit once its listed on big exchange.

1- arbitrage opportunity
2- market making opportunity
3- buy/dump small coins

The biggest money in crypto I made using small no-name exchange, where i was testing my algo MM strategies. Its much easier there since order book is barely moving, you can do everything slowly, check if it works correctly etc.

indeed this year fraud and hacking will increase from the usual. the possibility of a scam will be much more widespread. exchanges that really need to be avoided and not lulled by their lure. I guess it's all like being watched by those trying to pick up on the situation while we're off guard.

Be careful friends, we need to defend our assets, because this year there will be so many surprises that can make us lose everything.

Lesser known altcoins' blockchain is usually small enough, using a full node wallet should be not a problem.
The problem is the day traders / liquidity providers: they do keep bigger funds in order to grab some cents and this is quite a blow for them.
But the rest, i.e. normal miners should have not kept money there.

2 days left and we'll see if this is truly a hack incident or just an exit that they're making it look like it's hacking.

An exchange will definitely make its reputation even badder because of the hacking incidents. If they can help their affected users to get a refund that will retrieve them and on this case, there's nothing much has been seen for Livecoin except that bounty for the attack that has been posted above.

It doesn't remove the doubt of most users thinking that it's an exit.

it's over with their reputation as well as with their business. after all, who would send any money to them at all.

Just read this blog about Livecoin hack ^{posted by Ratimov} https://graph.org/Livecoin-Hack-or-hack-Current-state-12-26
I just read it there:


So they operate without a license, no company, just as a group of enthusiast.
it is very strange that they somehow fitted it with the end of the year

Too bad for those users that still have deposits on them. Just as the message on their website, time is over. Not just for livecoin but also for those users that still have a balance on them. Can we know if there are complains about them outside the forum and expresses that they still have a balance left on their accounts?

It's really no hope for them anymore and that address has some small amount of deposits. Probably from those users that have been affected and hoping that their balance will be recovered.

What particular complaint do you have in mind? I would consider a collective complaint on this moot and academic at this point in time. If such a complaint should be filed it should have been filed early on when the exchange wasn't hacked yet, stopped operating, and being officially investigated.

For now, the exchange is already under the official investigators. What is needed right now are information that would lead to the real culprits. Hopefully, the truth will come out sooner rather than later and the reparations settled.

Check their Twitter, lots of stories there. Some of them claim that they have a $25k balance on Livecoin, others said $2k, etc. Honestly, it's hard to believe someone would risk that much on an exchange like this. When will these guys learn..

Thanks!

I've read those people who have replied that they've lost those amounts. That's awful and if they're about to deposit and leave such amounts, why on this exchange instead of Binance. Although it's not very advisable to leave such amounts if the main purpose is to keep it only there.

I have read someone said that his entire life savings were there.  :-\

Their .news domain doesn't even have a function, just a display and it's not a secured SSL.

hard to blame them. i remember this exchange as it was promoted here in the forum for quite some time. so they did really get users on their exchange. however, as some are still storing their coins, this scenario will happen again and again. up until now, the message is the same on their website. so in case, this "hacker" will get money, we will know how much as he posted his addy on the site.

let's follow what will happen to this btc addy - https://www.blockchain.com/btc/address/3QKorNZTQG2kJMk5Lqoj9ecgSMiYXvRz2n

Yeah well, when you have people posting stuff like this, swearing that keeping coins on exchanges is profitable:

....you'll realize that not everyone thinks the same.  The fact is that it just isn't safe to do so, and Livecoin is just one example of many as to why that's true.  I sort of feel bad for anyone who lost large amounts of money, but part of me thinks that they weren't careful enough--or just plain had too much trust in an exchange that shouldn't have inspired any trust in anyone.

Jesus.  I really hope that's not true, but somehow I wouldn't be shocked if it was.

If they're making their Livecoin wallets as purely storage wallets where they let their funds sleep, they're partly to be blamed. But if they're traders, or day traders in particular, it is harder to blame them. It is a lot of hassle to have to withdraw and deposit every time you make an order and then withdraw and deposit again after the order gets filled. It is also very costly in fees. Sometimes, circumstances also call for quick trades. It cannot be done if you don't have funds parked in your exchange wallet.

Well, shit happens. I hope this will get resolved very soon.

Hello everyone and thank you for your testimonials
It was I who launched this topyc
Yes, I blame myself for being so naive and for having left funds on Livecoin, it's been 3 years and I have invested gradually.
I had gotten used to it and everything was fine until one day I noticed some weird stuff with chainelink (withdrawals closed for over 6 months and crypto was still going down)
I pointed out to them that this was not normal and wanted to leave but I would have had to sell for even by half of its value.
Half of my funds were in chainlink so I waited hoping they would open the withdrawals.
But here it is, December 24th has arrived and believe me that I did not have a good Christmas!
I lost a lot a lot ... and don't sleep anymore at night
It is obvious that this is a big exit scam and that the crooks are the executives of Livecoin.net.
These people are criminals, many have lost everything and are living very badly.
I intend to fight to the end and not let them go so easily.
I created a little investigative site to harm them and you never know how to collect important information.
This site is only a few days old and will evolve, thank you to whoever can forward this link on social networks and all that is possible to make it known in order to bring together as many victims and information as possible.
Here is the site: http://livecoin-scam.e-monsite.com
Thank you for your support

I hope too that it's just a made-up story but most of the replies on that very 1 active tweet for this year since Feb 2020 have all about those lost funds of their customers.

I'm very sorry if you didn't have a good Christmas because of this situation. Who would have a good Christmas if his funds were locked and if the exchange is inaccessible? Just like what everyone else's think of this "hack incident" just like you, it's hard to get your funds back but still if you have faith in it, good luck with your fight.

Is this even true?

Bitcoin Hits $500K on Russian Crypto Exchange After Hackers Take Control — Users Cry Exit Scam?
 (https://news.bitcoin.com/bitcoin-500k-russian-crypto-exchange-hackers-exit-scam/#:~:text=Cryptocurrency%20trading%20platform%20Livecoin%20claims,of%20pulling%20an%20exit%20scam.)
Probably it's just an inside job trying to convince people that their site were hack.

Even if there are traders who put an order that high, but if they can't withdraw their money, it's still loss in the air.
We will wait for an investigation and hopefully it will be clear soon who really are the perpetrators.

Thank you for your effort by creating this website. Hopefully more useful reports will start coming, so serious investigation can be started.
My funds are also stuck there, but only around 200$, which is not much, but it's something.

If you have any major updates, please keep us updated, thank you.

Is this even legit?

They are writing:

Did anybody try to write to the provided email address? In which case: What information are they requesting?

Can this be itself a scam to try to collect private information?

It seems to be suspicious, but we don't know in whos hand the website currently is .... has anyone tried luck via that email address?

I hate to say it, but I think 99% is too low an estimate.  I don't think anyone is going to get their funds back no matter how many documents they submit or how long they wait.  That statement might seem to be a glimmer of hope for those who had money on Livecoin at the time of the supposed hack, but I wouldn't hand over any personal information to them at this point.

It'll be interesting to see how this all plays out, though I suspect I already know what the outcome is going to be.

This is what worries me the most.

It doesn't seem like that they are a) committed to giving full refunds to investors and b) they are limiting the claims to a particular cutoff date.

Something is off. It almost feels like that it's an orchestrated attempt to appropriate customer funds under the guise of a hack.


This also seems like an attempt to suppress critical voices.

Does anyone know whether or not this exchange is regulated in Russia? Or something similar to Yobit that's just completely unregulated with unknown operators?

For us who do have experience about exchange hacks just like in the past.I remembered out on that Mt.Gox claims too on how it did actually played out lots of dramas and things.

If we do really think up sensibly then it isnt really worth to send out those personal information just for you to have the chance on getting those funds back.

Even so, there would really be those users who would really follow on whats being required just to have those kind of hopes.

Any news on this topic ? Has anyone successfully managed to get his funds back or something?

I doubt that anyone managed to get their fund back, because the evidence are that they ran away with people's money. unfortunately. if people want to get their fund back it could only happen if the police arrest the livecoin owners and the court decides that the livecoin owner returns the money that they stole.

Anyone received any refund from Livecoin?
On their site livecoin.news they say they have succesfully returned the assets. However, I have not received anything from them despite applying for veryfication.
They dont answer any emails either...
Any info?

Thanks

Try to check out their ANN: https://bitcointalk.org/index.php?topic=1151791.1640
You would find that those sockpuppets are pretending that they've been paid up by the exchange.

Have you followed this one? http://livecoin.news/index.html

If not then it isnt bad to take a shot and lets see if its real.

I wouldn't have any high hope about recovering anything from Livecoin. It looks like the finally pulled off their exit scam whilst lying to people that they were making refunds using sock puppet accounts that were used in their official thread. So not only did they go with your money, but they also went with your sensitive documents.

Livecoin no longer have any reputation they care about at this point.

Until now, the only "people" that post about a repayment were newbies without any history whatsoever. If you want to risk your personal info and pass this unnecessary "KYC" procedure of them, then be my guess. They didn't ensure anyone how they will use them, they didn't secure anyone's funds, they can convince anyone that they didn't scam.