Livecoin.net Scam

[Lasergun]

...if you happen to notice any other weird things going on with Livecoin don't hesitate to bump this thread.  I know I'd be very interested in hearing about any red flags.

ATTENTION!!!


Dear clients, we ask you to stop using our service in all meanings: don't deposit funds, don't trade, don't use API. We are under a carefully planned attack, which has been prepared, as we assume, over the last few months. We lost control of all of our servers, backend and nodes. Thus, we were not able to stop our service in time. Our news channels were compromised as well. At the moment, we partially control frontend, and so we're able to place this announcement. We're fighting hard to get back our servers, nodes and funds, we're working 24/7. News and next update will come up in the next few days. We're working in contact with local police authorities. We really do our best to overcome this issue.

[1714780580]

1714780580

[Quickseller]

...if you happen to notice any other weird things going on with Livecoin don't hesitate to bump this thread.  I know I'd be very interested in hearing about any red flags.

ATTENTION!!!


Dear clients, we ask you to stop using our service in all meanings: don't deposit funds, don't trade, don't use API. We are under a carefully planned attack, which has been prepared, as we assume, over the last few months. We lost control of all of our servers, backend and nodes. Thus, we were not able to stop our service in time. Our news channels were compromised as well. At the moment, we partially control frontend, and so we're able to place this announcement. We're fighting hard to get back our servers, nodes and funds, we're working 24/7. News and next update will come up in the next few days. We're working in contact with local police authorities. We really do our best to overcome this issue.

My gosh that is bad.

Regardless of if the hack is real, or if this is an exit scam, I don't think many people will place much trust in Livecoin in the future.

[The Sceptical Chymist]

I was just about to post a screenshot of their website in its current state, but I was beaten to the punch--and that's fine by me.

Looks like they've either pulled an exit scam or, if you take them at their word, are under some kind of attack.  Since I don't know what the truth is, I'll refrain from judgement, but at least they're not letting customers deposit funds.  The bad part is that you can't even log in, and I don't doubt there are some folks who've kept substantial amounts of crypto on Livecoin, and it's now questionable whether they'll ever get it back.  Hopefully they can.

Shit, I got lucky and didn't leave a balance there after my last trade.  This is why you don't use exchanges as a wallet.

[ryzaadit]

the hack is real, or if this is an exit scam, I don't think many people will place much trust in Livecoin in the future.

99.99% real.

They posted by themself:

-Losing control to all sever, node, backed
-Social media also compremise

I believe the hacker was also set up an instant trade to raise the price for every coin price and the hacker could sell his coin with the highest price. I have some token on LIVECOIN but keep put my order since more than 1 years ago, doesn't care at all because the token was pretty shit.

[bL4nkcode]

I believe the hacker was also set up an instant trade to raise the price for every coin price and the hacker could sell his coin with the highest price.

This is the main reason why the prices of some prices there goes 800% or so, btc/usdt even reach $1M lmao





How I wish that's really the price.

[safexscam]

Seems like a hack and not an exit scam, i was trading SFT and i saw how someone was putting 1 million SFT orders at 0.00000020 BTC, once the order get filled another new order for the same amount and price appeared, this happened all day before they shut down.
In the past 10 days a number of exchanges have been hacked, Exmo, Livecoin, Altilly.
Altilly looking more like an exit scam because they have a thread here and i am not able to post, why is that?
https://bitcointalk.org/index.php?topic=4502934.220


I found this other and is open
https://bitcointalk.org/index.php?topic=5166945.0;all

[izooomrud]

How reliable the exchange is, it is periodically hacked and something is stolen.
But still are rascals who say at the first opportunity that this is "serious service".
And since such hacks occur constantly and they never contact the police, this once again proves that they themselves are engaged in theft.



However are good people who supported my flag before, when this exchange robbed me, thanks to this flag, many people today did not lose their money, thank you.

Since then, even I somehow forgot about them, even about the fact that they stole 2k usd from me. And here they are again with the clear intention of deceiving someone. So let this black PR company follow them and everyone who helps them!

More recently, I suspected that they didn't just launch a new ad campaign and here's the result.

[SuperBro]

Hi everyone, if there is anyone here who lost their funds in Livecoin scam accident, feel free to sign the following petition to the authorities: http://chng.it/BFPG7Yq5VF

[The Sceptical Chymist]

This is the main reason why the prices of some prices there goes 800% or so, btc/usdt even reach $1M lmao

Sure, that's basically what happened when Mt. Gox was heading to hell in a flaming handbasket back in 2013/14.  The problem of course is that nobody could be sure they'd be able to withdraw their funds even if they made a profit--and so it is with Livecoin right now. 

When I go to the site, it appears that you're still able to log in, though I haven't tried to.  If they're really under attack and if they know their customers' funds are potentially unsafe, they're being irresponsible by not just keeping that warning message as their front page instead of allowing customers to log in (unless they're functional again, but I doubt it).

In the past 10 days a number of exchanges have been hacked, Exmo, Livecoin, Altilly.

I've never heard of Exmo or Altilly.  They must be very small exchanges with no security.  I'm so tired of this crap.  If you can't have proper protections in place so that your clientele can't lose everything to a hack, you've got no business running a crypto exchange.

[suchmoon]

LOL so they lost control of the power plug too... There are so many ways to shut the server off (e.g. DNS) but they choose to let the users get fucked. Livecoin at its best.

[allyouracid]

LOL so they lost control of the power plug too... There are so many ways to shut the server off (e.g. DNS) but they choose to let the users get fucked. Livecoin at its best.

It really sounds fishy. Separating backend and frontend, ok, makes sense. But the whole "we only control those pixels which allow the warning box to be displayed" thing sounds weird. If they gave any fucks about their customers, they'd disable the frontend completely to at least prevent online traders (not sure if they have an API) from getting rekt.
From what they write, they cannot be certain if their data is still genuine, so there's no reason whatsoever to still keep this thing running… at least not if the situation is as they describe it.

[malevolent]

I've never heard of Exmo or Altilly.  They must be very small exchanges with no security.  I'm so tired of this crap.  If you can't have proper protections in place so that your clientele can't lose everything to a hack, you've got no business running a crypto exchange.

Exmo's a small/medium sized exchange largely serving the CIS region. They are rumoured to have had some connections with BTC-e/WEX. They claim to have lost 6% of the users' funds and are supposed to eat the losses themselves. They are known for freezing funds and asking for sources of said funds, but that's not that unusual nowadays; I wouldn't put them in the same league in terms of scamming or bad governance as Livecoin.

[The Sceptical Chymist]

LOL so they lost control of the power plug too... There are so many ways to shut the server off (e.g. DNS) but they choose to let the users get fucked.

Not being a tech geek, I don't really understand servers and those sorts of things--but Livecoin's stated reasons for them having problems didn't ring true in my ears nevertheless.  And I'll say it again: if your exchange has such shitty security that (apparent) hacks like this can happen, you probably shouldn't be running any sort of crypto exchange.  It's not like it's not common knowledge that hackers are probably trying to get into every single exchange out there, nor that these security breaches have happened many times in the past.

It really sounds fishy.

Of course it does.  I don't believe a word of what Livecoin is telling the public.  I seem to recall that Cryptsy pulled this same scam back in 2016 (or whenever it was that they ran away with all of their customers' funds). 

[babo]

hack or bug, perhaps users in this situation should be very cautious about using it
honestly it's what I would be very scared of (so scared)

even if it will not be anything to worry about, better be a little paranoid

[ryzaadit]

Update.

A few days ago, we can access the website and check all the prices of each coin in their exchange but have a red warning to not use any exchange! I tough they already taking back the website control.

And guess whats? after the livecoin website back to them, they got hacked again  ~LOL


Seem like the hacker was also asking for some money based on his message.

[Bitum]

I tend that it is scam, I personally have no trust in this exchange, for which there have been strange incidents with this exchange before. Everything looks very suspicious, but that's my opinion.

[The Sceptical Chymist]

I tend that it is scam, I personally have no trust in this exchange, for which there have been strange incidents with this exchange before. Everything looks very suspicious, but that's my opinion.

Hell yes it looks suspicious.  I don't believe that image above with the extortion message one bit--this looks to me like Livecoin is trying to give the appearance of being under attack and under the thumbs of some hackers who are holding their website for ransom.  I'm not sure such a thing could happen, but it sounds ridiculous to me.  What it sounds like is an exit scam in the making, which is something that has definitely happened with other exchanges in the past.

Is their website not separate from all the coins they hold?  If so, they should be contacting all of their customers and offering to give them back their funds, assuming Livecoin still has access to them (which they should). 

[suchmoon]

Seem like the hacker was also asking for some money based on his message.

Not really, it looks like a childish attempt to fake a hack after an exit scam.

If the hackers got the money - why would they extort Livecoin? If Livecoin controls the funds - why would they pay the hacker?

[The Sceptical Chymist]

Not really, it looks like a childish attempt to fake a hack after an exit scam.

That was my immediate impression upon seeing that screenshot above--very childish, and insulting to all the Livecoin customers who are no doubt wondering if they're going to be able to recover any of their funds.

If the hackers got the money - why would they extort Livecoin? If Livecoin controls the funds - why would they pay the hacker?

Logic uber alles, my dear suchmoon.  It made no sense to me for the reason I stated above, but you put into words an even better reason why this is a steaming load of bullshit on Livecoin's part.

[ryzaadit]

Not really, it looks like a childish attempt to fake a hack after an exit scam.

If the hackers got the money - why would they extort Livecoin? If Livecoin controls the funds - why would they pay the hacker?

If the hacked was inside jobs to be exit scam.

I not gonna surprise at all with some Russian exchange we all know there has some other Russian exchange "YOBIT" who scam as well. Even all of livecoin social media not longer active anymore since Februari 2020, make them the same as yobit who lack activity, not responding ticket support but kinda fast when some token/coin contact them to listing exchange process.