Livecoin.net Scam

[izooomrud]

An idiot, or somebody who doesn't speak Russian, or understand its weird nuances when it comes to humor. you can take your pick.

Or who understands and hopes to mislead everyone. Thereby making them idiots

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[Sailor11]

Funny that I posted this on same day, only a couple of hours before your post.

https://bitcointalk.org/index.php?topic=5159642.msg51638846#msg51638846

Livecoin instantly blamed Monacoin on their ANN thread for what happened. Seriously they don't have communication with their clients and they have to ask in a forum? Obviously they have but wanted to shift the blame on the developer side.

On another subject, there were quite a few Bitcointalk older members that were promoting this exchange with their signature. Some of them are always accusing people of not doing due diligence before they promote a scam project. I've seen them giving negative trust to people that promote them. Yet quite a few of them promoted Livecoin.

DID YOU DO YOUR DUE DILIGENCE? Did you not know what livecoin is? So hypocritical.

[deisik]

Funny that I posted this on same day, only a couple of hours before your post

So it was not a coincidence, we got it

[Sailor11]

Funny that I posted this on same day, only a couple of hours before your post

So it was not a coincidence, we got it

No, I didn't mean anything against the op. His post was a personal experience and I read all of it. I had forgotten about Monacoin and Livecoin incident. Otherwise I would have added that too in my post.
I didn't mean it this way. I'm sure the op was aware of the livecoin campaign as well and was mad with them. I'm sure he didn't even notice my post which was just a small argument on their practices and the coins they keep trading.

[izooomrud]

So lets say Livecoin did restore your account, let you have access to your balances. What would be your next move?

I'm not a donkey who needs a carrot in front of nose! For now, they need to return my btc and the other coins they are holding hostage to make me delete everything I have said aгbout Mona situation. Next, if they actually don't have Mona coins, they have to clearly explain the situation but not sending me to seek answers from the developer. They should be communicating respectfully, like a professional stock exchange. Let your colleagues from Livecoin know that they need to keep an open dialogue with me.
I bet it will be interesting for you to read what other people say about them in the Russian branch of the forum.

Я pyccким пo бeлoмy (a зaфигoм) пoяcнилa, мoнepy cкpыcил xaкep.
Hy нeyжeли нe пoнятнo?

Aгa, "мыши пoeли..." (c)
..........................

Translate

- I clearly explained in Russian (and why?) that Mona has been stolen by the hacker.
- Don't you get it?

Yeah, "eaten by mice...” (c)

Lady, if a hacker steals 1.0 xmr from you, you may seek for help from the law enforcement or not, it’s your personal choice...

In this case, the client's funds were snitched... There is only one way the exchange does not have to turn to the law enforcement agencies, if they are ready to compensate for personal losses
I'll speak honestly, this exchange only reported to the forkway and the League of sexual reforms but not to the police. Two simple reasons are behind this - - their fear of conduct
standard procedures and audit. The second reason is, of course, the "specifics” of the exchange business in terms of licensing and registration.

NO ONE (except the owners) has any idea of what kind of hole this is, where it came from and how it changes with time.
Most likely this hole appeared on a peak of financial turnovers, when there were plenty of funds. Why would not they take a small part of these funds for the exchange development, costumer attraction, erasing blockchain and resting from all the hard work they have done?
After a while, the market started to fall, the exchange’s financial turnovers went down and their customers started leaving to Binance for example, etc. So, a relatively small hole in balance turns out to be huge in relation to new realities. Everything is so predictable. What will save from the audit? That's right, a fire. Therefore the exchange suffered from hacker attacks several times. There were no appeals to the law enforcement agencies. Legally, there is not or was not any theft. Blocking/suspending of clients' funds is a 100% scam.
The users of this exchange should start thinking about it... We can see that this is the second time when clients suffer from such episodes. Those, who organize attacks on the blockchains are always tied to the main point - the funds withdrawal. As we can see, both times the funds are leaked through this unregulated and unregistered exchange. Need any more comments?
ll tell you more, none of non-regulated exchanges have 100% reserved, because the likelihood of 100% withdrawal of the clients assets is minimal.
Now, if we will see an appearance of a representative with a shady registration (a homeless person, for example), we must be very careful and make sure to check what kind of business they claim and where they were registered.
Only scam exchanges continue to use their clients’ money, after lying to them, and dare to ask the clients to rub their noses in the bullshit (illegal) user agreement.

[nutildah]

So lets say Livecoin did restore your account, let you have access to your balances. What would be your next move?

I'm not a donkey who needs a carrot in front of nose! For now, they need to return my btc and the other coins they are holding hostage to make me delete everything I have said aгbout Mona situation. Next, if they actually don't have Mona coins, they have to clearly explain the situation but not sending me to seek answers from the developer. They should be communicating respectfully, like a professional stock exchange. Let your colleagues from Livecoin know that they need to keep an open dialogue with me.

They're clearly well past the point of wanting to keep an open dialogue with you. A week ago I recommended to them via PM that they unlock your account and let you withdrawal your bitcoin, they refused. It seems they think you will not be happy with any solution they had offered you previously.

I bet it will be interesting for you to read what other people say about them in the Russian branch of the forum.

I've read a lot of it. The Russian community seems pretty evenly split on the issue, if not more leaning to the side of Livecoin.

[izooomrud]

It seems they think you will not be happy with any solution they had offered you previously.

What solution did they offer me earlier?

[nutildah]

It seems they think you will not be happy with any solution they had offered you previously.

What solution did they offer me earlier?

You flooded their customer support with messages before getting locked out of your account. Surely they must have given you some options during that time. You never mentioned what they said in this period, but I would imagine your best option was exchanging the MONA for BTC, and then withdrawing your BTC.

If they reinstated your account, you would still be unhappy about not being able to withdraw the MONA, correct? It seems like they tried their best to explain the situation to you and that wasn't good enough.

The best chances you have of getting your money back now is taking them to court.

[izooomrud]

It seems they think you will not be happy with any solution they had offered you previously.

What solution did they offer me earlier?

You flooded their customer support with messages before getting locked out of your account. Surely they must have given you some options during that time. You never mentioned what they said in this period, but I would imagine your best option was exchanging the MONA for BTC, and then withdrawing your BTC.

If they reinstated your account, you would still be unhappy about not being able to withdraw the MONA, correct? It seems like they tried their best to explain the situation to you and that wasn't good enough.

The best chances you have of getting your money back now is taking them to court.

I have repeated this many times already, that they did not propose any solutions, all they suggested was to go and solve the problem with the developer on their own. And the rest of the correspondence, I have already shown.

Who should I sue? The site has no official representatives and a registered company.

They just stole my money and are not going to return anything

[nutildah]

Who should I sue? The site has no official representatives and a registered company.

Official representative: Ivona Zlatova, CEO
I can find past registrations for Red Velvet Investments in the Bahamas and Belize

I also found this review but I don't how accurate the information is:

Livecoin.net is a company officially registered in our country, which is subject to the laws of the Russian Federation. Thus, in its work, the organization adheres to the following principles: ensuring the security of the cryptocurrency trade process, the confidentiality and security of users' personal information, anti-money laundering and fraud support.

Some things you just can't find on the internet. If I were you and I was really serious about this, I would hire a lawyer or some sort of legal aid to help you research the matter. Perhaps you could get a free consultation at a law firm.

[Vadi2323]

...I would also like to ask community opinion on the campaign continuing?

we are here not for earn, we are here for discuss about bitcoin & co...

I understood... yahoo62278 is campaigns manager not for his earn. He is here for discuss about bitcoin & co... Sounds interesting! )

...
Obviously, this question is not to OP as he can barely speak comprehensible English

But he lies in English great

Glad to see you like to think I had something to do with Hhampuz closing the campaign. If you're going to talk about me in the local boards at least send me a link so i can dispute your claims.

OP could be a liar but the facts are facts. Livecoin openly admitted to holding the dudes coins. Their ToS is shit. The amount was pennies too which is baffling. You cannot hold a persons account/money hostage until they delete posts or bad publicity. If you don't like my opinion feel free to use that ignore button.

I'm glad that you're glad but I think that you was promoting yourself as "look at me I am honest". In Russian local board nobody needs you because you are no use there.

OP could be a liar but the facts are facts. Livecoin openly admitted to holding the dudes coins. Their ToS is shit. The amount was pennies too which is baffling. You cannot hold a persons account/money hostage until they delete posts or bad publicity. If you don't like my opinion feel free to use that ignore button.

I am also baffing when some person set a bad flag being baffled and not understood what happened.

[freecitizen]

Livecoin announced that MONA will be delisted in two weeks.

MonaCoin news

Created 16.07.2019 11:51

Dear customers.
Due to the fact, that in May, 15, 2018, MONA asset had been attacked, and its blockchain was compromised. Many customers - holders of the said coins, as well as exchanges, from which MONA coins were stolen completely or partially, suffered considerable losses.
Our Exchange was no exclusion, it was exposed to financial losses, too, because of the attack.
We were the first to contact the developer and point out the problems with blockchain. There has been many publications on this issue, including some major online news websites.
ccn.com
reddit.com
bitexpert.io
cryptor.net
bestinvestpro.com
bloomchain.ru
decenter.org
whattonews.ru
newsbtc.com

You will also find other exchanges' customers requests, addressed to the said asset developers, demanding to solve this problem.
github.com
github.com

In case of damage caused through actions or inactions of developers/owners of the asset, namely, security breach of the blockchain/network, we always seek to claim compensation for losses from the developers, as they bear full responsibility for their product. We have been trying to get compensation from MONA developers for a long time, all without success, they refused to bear responsibility for the damage inflicted on their project. In this connection, we are forced to delist the asset within 2 weeks.
The deposit/withdrawal of this asset is impossible given the lack of MONA coins stolen during the attack on Mona blockchain. The trade will remain opened until the last day.

We are still willing to dialogue with the developers, if you want to get Mona coins for withdrawal, please, contact them, demanding a compensation for MONA network breach. If they make up for the harm caused by hacking of their project, we shall immediately distribute coins, received from the developers, between all customers.

https://www.livecoin.net/en/news/view/261

[suchmoon]

Livecoin announced that MONA will be delisted in two weeks.

Given that withdrawals are not possible - anyone with a MONA balance on Livecoin gets fucked, including those who owned "real" pre-attack coins.

[bones261]

Livecoin announced that MONA will be delisted in two weeks.

MonaCoin news

Created 16.07.2019 11:51

Dear customers.
Due to the fact, that in May, 15, 2018, MONA asset had been attacked, and its blockchain was compromised. Many customers - holders of the said coins, as well as exchanges, from which MONA coins were stolen completely or partially, suffered considerable losses.
Our Exchange was no exclusion, it was exposed to financial losses, too, because of the attack.
We were the first to contact the developer and point out the problems with blockchain. There has been many publications on this issue, including some major online news websites.
ccn.com
reddit.com
bitexpert.io
cryptor.net
bestinvestpro.com
bloomchain.ru
decenter.org
whattonews.ru
newsbtc.com

You will also find other exchanges' customers requests, addressed to the said asset developers, demanding to solve this problem.
github.com
github.com

In case of damage caused through actions or inactions of developers/owners of the asset, namely, security breach of the blockchain/network, we always seek to claim compensation for losses from the developers, as they bear full responsibility for their product. We have been trying to get compensation from MONA developers for a long time, all without success, they refused to bear responsibility for the damage inflicted on their project. In this connection, we are forced to delist the asset within 2 weeks.
The deposit/withdrawal of this asset is impossible given the lack of MONA coins stolen during the attack on Mona blockchain. The trade will remain opened until the last day.

We are still willing to dialogue with the developers, if you want to get Mona coins for withdrawal, please, contact them, demanding a compensation for MONA network breach. If they make up for the harm caused by hacking of their project, we shall immediately distribute coins, received from the developers, between all customers.

https://www.livecoin.net/en/news/view/261

     This solution is not acceptable at all.  The Mona holders would be better off if Livecoin socialized the losses among current Mona holders, get on the new chain, and let the Mona holders withdraw the coin. Retaining the Mona coins and having the individual holders attempt to get them from the developers is ludicrous. Also, it is despicable that they will continue to allow trading on this dead asset.

[fratoshi]

Livecoin can try to speak with Monacoin and try to solve this instead of not letting users withdraw and delist

[deisik]

The Mona holders would be better off if Livecoin socialized the losses among current Mona holders, get on the new chain, and let the Mona holders withdraw the coin

I'm not sure I understand what you mean by this. As far as I'm able to grasp the concept, it is about spreading losses among everyone, even those not affected by the situation (like Bitfinex altcoin holders). In other words, socializing the losses only among the current holders of the Mona coin (which is to be delisted) is not much different from just delisting it (what the exchange is going to do anyway)

What am I missing?

[suchmoon]

I'm not sure I understand what you mean by this. As far as I'm able to grasp the concept, it is about spreading losses among everyone, even those not affected by the situation (like Bitfinex altcoin holders). In other words, socializing the losses only among the current holders of the Mona coin (which is to be delisted) is not much different from just delisting it (what the exchange is going to do anyway)

What am I missing?

Delisting means bagholders get nothing (they can't withdraw) and Livecoin gets to keep whatever actual MONA it still has. Livecoin should at least distribute existing real on-chain MONA covering at least a fraction of users' balances. Unless you're saying that Livecoin has 0 MONA coins, which is certainly possible and would make the whole scam even more egregious.

[deisik]

Unless you're saying that Livecoin has 0 MONA coins, which is certainly possible and would make the whole scam even more egregious

Well, that's not me, actually

Losses are losses and if they are to be socialized, everyone thus "socialized" will get financially punished. What you suggest is more about paying back but if they didn't do that before why they are going to do that now? Anyway, if the Mona withdrawals as well as deposits have been disabled, it is quite possible they don't have the coins unless they bought them elsewhere. In this manner, delisting the coin is a form of loss socialization in its own right

[suchmoon]

Well, that's not me, actually

Losses are losses and if they are to be socialized, everyone thus "socialized" will get financially punished. What you suggest is more about paying back but if they didn't do that before why they are going to do that now? Anyway, if the Mona withdrawals as well as deposits have been disabled, it is quite possible they don't have the coins unless they bought them elsewhere. In this manner, delisting the coin is a form of loss socialization in its own right

Where did the coins disappear then? The 51% attack pretty much by definition couldn't "destroy" existing main chain coins that Livecoin supposedly had in their wallets. So if the balance is now 0 then either Livecoin had lost them before the attack, or they sold them off after the attack while customers were unable to withdraw.

I really don't understand the rest of your argument. Sounds like an attempt to justify the scam with word games.

[izooomrud]

These scammers have deprived me of the opportunity to sell this mona. They also continue to illegally withhold my BTC. And all this happens only because I publicly spoke about the problem with MONA!