What was Livecoin? What happened to the Cryptocurrency exchange? Table of Contents

What happened to Livecoin exchange?

Russian cryptocurrency exchange Livecoin went offline and claims to have suffered a “carefully planned attack”, but some in the community suspect it was a scam to get out of it cleanly.

Livecoin urged its clients to stop using its services, including deposits, trading, and API. “We weren’t able to stop our service in time. Our news channels were also compromised. At the moment, we partially control the frontend, so we can make this announcement” says the Livecoin homepage.

Livecoin said it is working hard to regain control of its servers, promising to deliver a security update in the coming days. The exchange also said it is cooperating with local law enforcement authorities.

According to public opinion, the hackers managed to capture the Livecoin infrastructure and change the exchange rates to abnormally high values.

A co-founder of YellowBlock, an educational website cryptocurrency, known as ” Cryptorangutang,” said that Bitcoin (BTC) has exceeded $ 320,000 per coin on the platform at the end of December. “Whatever is going on, I don’t recommend trying to earn dollars by this means, the funds will most likely freeze,” he tweeted.

Some Reddit users have even advanced the hypothesis that the Livecoin “hack” could be a classic exit scam. Livecoin did not immediately respond to Cointelegraph’s request for comment. Apparently, the exchange doesn’t have an official social account on Twitter or Telegram.

11 Best Altcoins to invest in 2021

About Livecoin exchange

Blockchain technology and one of its implementations – cryptocurrency, is creating a new economy right before our eyes, and this is the economy of the future.

Within the latest 5 years cryptocurrency, emerging as an exotic technology-driven fairly marginal application, developed into a powerful factor of the world financial system, which cannot be ignored or overlooked anymore by anyone.

Livecoin’s team of young, dashing, idea-inspired experts created a new Trading Platform – the Livecoin Exchange, designed to help motivated people to benefit from the great opportunities offered by the unique technology of decentralized distributed access to digital assets.

In the world of cryptocurrencies, there are no distances, boundaries, differences in races and religions, the people are united into a community of free individuals, realizing their potentials at their own free will.

Livecoin believed, that on the basis of their Exchange this community will find it both convenient and beneficial to pursue their goals, to grow their capitals, to take chances and to win.

What was Livecoin?

Livecoin was a modern, safe Trading Platform for accessing cryptocurrency exchange markets with a very simple interface and low trading fees.

Livecoin’s own API was easy-to-use, supplied with an instructional manual.

Livecoin’s Support Service communicated in Russian, English and Chinese and replies to the Customers’ tickets 7 days a week within working hours (UTC+3).

What was Livecoin for?

Livecoin Exchange was a service for the sale and purchase of cryptocurrencies for cryptocurrencies and for fiat money with a large variety of trading tools; bots trading and arbitrage were also available and allowed.

Livecoin’s customers may exchange, buy, sell, play on the rates fluctuations and make profits – same as at conventional exchanges. Except here they are dealing with a new type of money – cryptocurrencies, which gives more room for maneuver and higher potential profit.

Why was Livecoin created?

Livecoin Exchange was universal – they provided an intuitive, simple interface for beginners and an array of enhanced features for more experienced traders, interested in detailed information on the markets.

Which is the Best Cryptocurrency to buy in 2021?