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1  Economy / Exchanges / Coin developers, beware of Livecoin.net scam on: October 07, 2020, 03:10:10 PM
Coin developers, beware of Livecoin.net scam
Livecoin admins may have stolen almost 60 BTC over the past three years

Originally published in CryptoHuff

Livecoin.net is a centralized cryptocurrency exchange headquartered in Belize that has been operating for over five years. It has more than 600 market pairs, generates roughly $25 Million in trading volume per 24 hour period (according to CoinMarketCap) and has many happy, satisfied users we imagine. In and of itself, it is not a scam.

However, some rogue members of the official Livecoin team are running a scam that, unfortunately, the 01coin Community fell victim to. We would like to recount our experience in hopes of preventing any other cryptocurrency projects from suffering a similar fate.

The story begins on September 18, 2020 when, after years of unsuccessful listing attempts, 01coin finally earned a listing on CoinMarketCap. Amusingly though, the zocteam were the last to know of this development and did not make an official announcement to this effect until 10 days later on September 28 (although in truth, we did find out on the 27th, a Sunday, and deliberately postponed the announcement until the 28th, a Monday for better social media traction).

In the time between September 18 and September 28, a number of new users joined the 01coin Community's official Telegram group, presumably having discovered us on CMC's recent additions list. One of those users was a now-deleted account depicted under the username "Liam" who claimed to have an affiliation with the Livecoin exchange, suggesting we should look into a potential listing opportunity.

Members of the zocteam joined the official English-language Livecoin Telegram group and directly messaged "Ethan," a part of the Livecoin Telegram admin group. Notably, we initiated the contact, thus assuring ourselves that Ethan was, in fact, the user we wanted to speak with, and not an imposter account. Subsequent recontact attempts confirmed the account did, in fact, belong to the legitimate Livecoin admin usernamed Ethan.

Long story short, we exchanged a pleasant conversation and Ethan seemed impressed by the 01coin project and its goals. He subsequently offered us a discounted listing opportunity that fit our budget as a nanocap community coin run by a group of volunteers and arrangements were made via email. About 24 hours later, a Bitcoin payment was made to pay for the listing from the 01coin Community donation wallet to a wallet that has received >57 BTC over the past three years, hence seemingly legitimate for the purpose at hand.



That's when things started to go sideways.

We received an email from the same email address (i.e., support@livecoin.net) instructing us not to send payment and that they were not accepting any new listings. Suffice to say, the payment had already been sent, so we enquired about the apparent communications breakdown within the Livecoin team.

Livecoin's response indicated that we had fallen victim to a scam. A scam perpetrated by members of their own staff.

When we followed up with Ethan, who had been awaiting a deposit of ZOC for market-making purposes, he deleted all conversations, booted all zocteam members from the official English-language Livecoin Telegram group, and the user Liam in the 01coin Telegram group disappeared along with all of his correspondence.

When asked for comment on this story, Livecoin denied the existence of their Telegram group and said, "We do not have accounts on social networks." Well, well, well, okay then.

At this point we can only conclude that nobody working at Livecoin.net ought to be trusted. Perhaps this was the work of a few rogue elements operating within Livecoin, or perhaps it goes deeper than that. All we know is that admins within the official Livecoin hierarchy are currently attempting to scam coin projects, and judging from the BTC receiving address, this scam has been running for almost three years and has generated nearly 60 BTC worth of stolen funds. We simply ask coin teams and developers to heed this warning: do not trust anyone at Livecoin.net even if you know they are legitimate because there exists a strong possibility they have gone rogue.
2  Alternate cryptocurrencies / Announcements (Altcoins) / [RE-ANN] 01coin [ZOC] ⭐ PoW-NeoScrypt ⭐ Masternodes ⭐ 100% Community Governance on: April 30, 2018, 09:14:40 PM
(If the images in this post fail to load, please try refreshing your browser window.)





  01coin is an innovative, cryptographically-secured digital asset ledger based on blockchain technology. Developed in
  part from the core code behind Dash, 01coin includes many innovative enhancements.

  01coin aims to become the most community-centric project in all of crypto. Born out of its own ashes when the
  original development team mysteriously disappeared one month after the coin launched, it is now completely
  managed and operated by the community. This includes a large and dedicated team of community moderators
  always ready and willing to help new users. It also includes a strong principle of community governance: no decision
  will be made unilaterally by a single individual or by an oligarchy of the few. Every step forward for 01coin will be
  determined by community votes and masternode governance. As such, we don’t know yet exactly what 01coin will
  look like a year from now, but we do know it will look exactly like the coin you want it to be.

       •   Do you want 01coin to be your go-to asset for the ultimate in private, secure and anonymous
            transactions using features like PrivateSend Coin Mixing and ZeroCoin Minting? Vote for it and
            make it so!
                                                                          
       •   Do you want 01coin and its underlying blockchain ledger to form the basis for an asset-backed
            decentralized exchange? Vote for it and make it so!
                                                                                                      
       •   Do you want 01coin to be the foundation of a massive vendor network and payment gateway
            by leveraging InstantSend technology? Vote for it and make it so!
                                                                                                      
       •   Do you want 01coin to [fill in the blank]? Vote for it and make it so!

  With 01coin, the future is in your hands.





       •   Ticker symbol: ZOC
       •   Proof of Work algorithm: Neoscrypt (ASIC-resistant)
       •   Target block spacing: 150 seconds
       •   Difficulty retargeted at every block using Dark Gravity Wave
       •   Current block reward: 20.02662038 coins
       •   Reward distribution: 50% miners / 50% masternodes
       •   Block reward reduction: 8.3% per annum
       •   Maximum total supply: 66 Million coins over 216 years
       •   Official block explorer: explorer.01coin.io
       •   Backup block explorers: CryptoCore | OpenChains
       •   Market capitalization: coinmarketcap.com
       •   Masternode stats: masternodes.online
       •   Mining profitability: whattomine.com

                    




  The original 01coin developer retained a <1% premine of total supply upon coin launch of 650,000 coins. Notably,
  only about 20,000 premine coins were ever spent in the form of masternodes sold at auction. Most of the premine
  – 630,980 of it to be precise – remained intact. This posed a risk to the 01coin network as it comprised roughly half
  of the circulating supply at the time. As such, we have disabled transactions from the premine address, effectively
  locking them up so they can never be spent. As a result, although this balance will appear in block explorers, it can
  be considered as effectively removed from both the total supply and circulating supply of 01coin. You can see the
  disabled premine address for yourself by clicking here.




       Q: Will I get to keep my ZOC?
       A: Yes, we are not doing a coinswap for ZOC, instead we are simply using the existing blockchain
            with a few revisions to the code.

       Q: What technical aspects of the coin are changing?
       A: Outside of disabling the premine, there are no changes we will be making to the 01coin code that
            affect user functionality. Eventually, we may have to change 01coin’s default port from 10000 to
            10001. This is to make sure wallets do not interfere with webmin on certain systems. This change
            will be announced well in advance of its implementation if and when it does occur. 01coin currently
            supports IPv6 connections, but not for masternodes, so enabling IPv6-connected masternodes is
            another potential change that could affect user functionality down the road.

       Q: Will anything else change?
       A: Everything not mentioned here will stay the same as it was for now. If you want something to
            change, vote for it and make it so!




  01coin boasts a large and dedicated community. Come join us today!

            
                                                  




  01coin is proud to be listed on some of the best up-and-coming cryptocurrency exchanges in the world: Crex24 and
  Graviex.
  
                                                          




  For help with mining 01coin, please join the community Discord server and visit the #mining channel. A 01coin
  moderator or community member will be only too glad to assist you.

       •   Recommended mining software for AMD video cards: Claymore
       •   Recommended mining software for Nvidia video cards: CryptoDredge

  Up-to-date list of validated mining pools:

       •   collective-b.org
       •   dragonpuddle.com
       •   mecrypto.club
       •   speedpool.top
       •   youcrazy.me

  Please make sure to #SpreadTheHash™!




  For help with running a 01coin masternode, please join the community Discord server and visit the #masternodes
  channel. A 01coin moderator or community member will be only too glad to assist you.

       •   01coin Masternode Setup Guide: click here
       •   VPS Services: We recommend 01VPS.net

      

3  Other / Meta / Possible to assume control of abandoned account? on: April 20, 2018, 06:49:17 AM
Hi there! I'm wondering if there is any available mechanism or process for requesting to be given access to an abandoned account? I'm wondering this on behalf of an abandoned altcoin that the community has taken over. We plan to Re-ANN the coin, but it would be way better just to correct and take over management of the existing ANN, thereby reducing the clutter on btctalk. Any advice or guidance would be greatly appreciated.

Thanks!
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