The cryptocurrency trading platform Livecoin claims that it has been hacked after the crypto community noticed that the price of Bitcoin has soared to one million dollars. At the same time, users complained that they were unable to withdraw funds and suspected it was an exchange that pulled the export scam.
$500K per bitcoin on Livecoin exchange
The Russian cryptocurrency exchange Livecoin claimed that it suffered a security breach during the Christmas period after the crypto community observed that the prices of Bitcoin and other cryptocurrencies on the exchange soared above its market price.
According to reports, the transaction price of Bitcoin is about $500,000, while ETH is over $15,000 and XRP rises above $17. On other exchanges, the current trading price of BTC is approximately US$24,813, the trading price of ETH is US$630, and the trading price of XRP is US$0.31.
At the same time, many users complained on social media that their deposits were not credited to their accounts and they were unable to withdraw funds from the exchange. This leads many people to suspect export fraud.
Livecoin then posted a message on its website on Christmas Eve, asking customers to stop using its service. The notice read: “Do not deposit funds, do not trade, do not use API.”
We are in a carefully planned attack, which, as we assumed, was prepared in the past few months. We have lost control of all servers, backends and nodes.
The notice continued: “We were unable to stop the service in time… We are contacting the local police authorities. We are indeed doing our best to overcome this problem.”
Do you think Livecoin is exiting the scam? Let us know in the comments section below.
Picture Credits: Shutterstock, Pixabay, Wiki Commons, Livecoin
Disclaimer: This article is for reference only. It is not a direct offer or solicitation of an offer, nor is it a recommendation or endorsement of any product, service or company. Bitcoin.com does not provide investment, tax, legal or accounting advice. The company or the author is not directly or indirectly responsible for any damage or loss caused or allegedly caused by the use or reliance on any content, goods or services mentioned in this article or related thereto.