Livecoin Exchange Closing Shop

[roosbit]

Don't know what happened to Livecoin exchange but from what i have read it seems they got hacked and have no way of recovering and they have decided to close shop.
But most importantly, if anyone had coins on the exchange of not less than $10 you can claim your coins by sending an email to their support [ email withheld]

source http://livecoin.news/

NB: Not sure why old domain isnt in use( livecoin.net)

Dear clients, as we reported earlier, our service were under attack in December 2020. Investigation is in active phase right now. Our service has been damaged hard in technical and financial way. There is no way to continue operative business in these conditions, so we take a hard decision to close the business and paying the remaining funds to clients.

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[The Sceptical Chymist]

NB: Not sure why old domain isnt in use( livecoin.net)

They got hacked--at least that's the story, and I don't know if they ever got access to their original site back.  I'm sure someone here who's been following the drama surrounding Livecoin will have the answer to that one.  I have been reading their ANN thread, but there hasn't been much communication from Livecoin in it.

I still don't know what to believe, whether the hack was real or if this is some kind of weird non-traditional exit scam.  Assuming there actually was a hack, it's scary to think that an exchange could lose control of their site like that.  Hopefully other exchanges have better security measures in place than Livecoin did, but it's not like any of them make that information public.

Glad to see customers getting at least some of their funds back, and if everything is what it seems to be, this could have been a hell of a lot worse.  I won't mourn Livecoin going out of business, though.

[phreess]

NB: Not sure why old domain isnt in use( livecoin.net)

They got hacked--at least that's the story, and I don't know if they ever got access to their original site back.  I'm sure someone here who's been following the drama surrounding Livecoin will have the answer to that one.  I have been reading their ANN thread, but there hasn't been much communication from Livecoin in it.

I still don't know what to believe, whether the hack was real or if this is some kind of weird non-traditional exit scam.  Assuming there actually was a hack, it's scary to think that an exchange could lose control of their site like that.  Hopefully other exchanges have better security measures in place than Livecoin did, but it's not like any of them make that information public.

Glad to see customers getting at least some of their funds back, and if everything is what it seems to be, this could have been a hell of a lot worse.  I won't mourn Livecoin going out of business, though.

Everyone says they got hacked,, but prob they just exit scammed lol

Greed is at an ATH as cryptos go to the moon

[roosbit]

Some kind of weird non-traditional exit scam.

"exit scam indeed" with only a website and an email address as our only contact, we are at their mercy !!

This leads me to ask these questions;

• Are crypto exchanges regulated in any way
• Do we have any crypto exchanges that an insured to cover such losses
• Does anybody audit these guys
• Are exchanges compelled to pay tax

[sheenshane]

If you're in the telegram group of Livecoin, there are too much speculation and rumors there that this is an exit scam play which is a very common way to run away from the user's fund and acting that they are the victim here.  It might not that worst because I saw there on their telegram group that there's some got refund but only 50%.

This was supposedly the last day I hope everyone will get their fund even not in full refund rather than you got nothing.  As the announcement said, the claims can be filed until March 17, 2021.

Anyway, I'm just curious here, how they will know the legit claimants since they don't have access or don't have control their website.  I mean the legitimacy of the real owner of the Livecoin account.

[Twinkledoe]

If you're in the telegram group of Livecoin, there are too much speculation and rumors there that this is an exit scam play which is a very common way to run away from the user's fund and acting that they are the victim here.  It might not that worst because I saw there on their telegram group that there's some got refund but only 50%.

This was supposedly the last day I hope everyone will get their fund even not in full refund rather than you got nothing.  As the announcement said, the claims can be filed until March 17, 2021.

Anyway, I'm just curious here, how they will know the legit claimants since they don't have access or don't have control their website.  I mean the legitimacy of the real owner of the Livecoin account.

I have the feeling that there will be a lot of complaints later on in this exchange. Their time period is very short and not many users will see this notice. But anyway, this exchange has been the subject of scrutiny even before. It is really hard to trust your coins in trading platforms. Always secure your funds, and send it to your wallet that you have full control of. Something is not adding up here but I hope they can return the funds to their clients as many as possible.

[stomachgrowls]

Try to see or check their ANN thread    
LiveCoin.net >Buy/Sell/Exchange>New pairs:BVK/BTC,APOD/BTC,KTETH/BTC You would able to see those tons of newbies whom do keep saying the same thing like these:

I have followed the instructions and Livecoin provided 50% of my deposited money.

I have followed the instructions and have received 50% of my funds in USDT. Thanks Livecoin team and waiting for the remaining funds.

Dont know on what they are up to but its better for them to die completely and sorry for those who do have still funds stuck
into this scammy exchange.

[Darker45]

This is a very topsy-turvy resolution. It seems Livecoin remains shady until the end.

I won't conclude that this is an exit scam as there doesn't seem to be an indubitable piece of proof indicating so but this is certainly something to question. I suspect the people behind this exchange will leave their responsibilities with Livecoin and to its users with their pockets overflowing.

Well, it is not really sad to see a centralized exchange go.

[hugeblack]

Try to see or check their ANN thread    
LiveCoin.net >Buy/Sell/Exchange>New pairs:BVK/BTC,APOD/BTC,KTETH/BTC You would able to see those tons of newbies whom do keep saying the same thing like these:

Unless there is an independent investigation, no one can tell us the truth. The important point is to avoid using Livecoin even if it returns users' money.
If they return all the money, that mean they are trying to gain the trust of the users, which is difficult. As for returning part of the money and not developing the platform to become better, or learning from past mistakes, this means that they are selective scammers.

anyway, avoid using shady exchanges.

[magneto]

Seems very scammy.

a) You can send ETH/BTC transactions for way less than $10, especially if you chunk them in one TX.
b) Who said this is the legally sanctioned way for them to distribute funds? Why are large balance holders being punished?

It just seems like they're trying too hard to look legit whilst having a completely arbitrary, unprofessional liquidation plan without any third party arbitration. But thank god they are finally gone from the market, at least.

[khaled0111]

It might not that worst because I saw there on their telegram group that there's some got refund but only 50%.

I wouldn't trust any of their communication channels. Here is what they posted on their new website livecoin[dot]news:

Participating in these groups you run a high risk, because we have no any groups. The only official statements are made on this website.

Honestly, I wouldn't even trust this website with my personal information! They claimed before that they totally lost access to their databases so how are they going to verify that whoever contacts them is really one of their customers?