LIVECOIN HACKED

[thierry35800]

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

[mk4]

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/

[Finestream]

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.

[Tytanowy Janusz]

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.

[Vaskiy]

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.

[arayde]

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

[NeuroticFish]

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?

[kryptqnick]

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

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.

[Coin_trader]

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?

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.

[Tytanowy Janusz]

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

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.

[bassbity]

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.

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.

[NeuroticFish]

Might be difficult for lesser altcoin which don't have good light wallet. Usually you're either forced to use crap or full node wallet.

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.

[sunsilk]

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.

Now a hack will completely destroy the user funds and the Livecoin exchanges will also show bare hands.

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.

[examplens]

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'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:

July 4, 2019 - the company was registered in Belize (company name is Red Velvet) but the registration expired one year after. So in fact, Livecoin has no official company registration since July 2020.

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

[sunsilk]

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'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:

July 4, 2019 - the company was registered in Belize (company name is Red Velvet) but the registration expired one year after. So in fact, Livecoin has no official company registration since July 2020.

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.

[Darker45]

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.

[joniboini]

Can we know if there are complains about them outside the forum and expresses that they still have a balance left on their accounts?

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..

[sunsilk]

Can we know if there are complains about them outside the forum and expresses that they still have a balance left on their accounts?

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.

[AmoreJaz]

Can we know if there are complains about them outside the forum and expresses that they still have a balance left on their accounts?

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..

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

[The Sceptical Chymist]

Honestly, it's hard to believe someone would risk that much on an exchange like this. When will these guys learn..

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

Nonsense I made much more than 0.2 BTC by leaving my stuff on the exchanges. Just today I caught the Fun pump. Sold 100k fun coins and an hour later the 400% gain was gone. Just diversify a bit so you can afford the hacks..

Livecoin was by far my smallest account. But would still like the money back

No I am saying the rewards outweigh the risks. I have been able to trade up from a 1k investment to having close to a 100k in two years. That is with having lost 4 exchange accounts along the way.

Hodl all you want and leave the trading to the rest of us.

....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.

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

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