Livecoin, a Russian cryptocurrency trading platform admits to hack attack. Its crypto client’s attention was drawn to the price of bitcoin valued at almost half a million dollars. Customers are also complaining that withdrawal of their funds is almost impossible as they suspect an exit scam.
$500K per Bitcoin on Livecoin Exchange
Russian cryptocurrency exchange Livecoin claims that it suffered a security breach over Christmas after the crypto community observed the price of bitcoin and other cryptocurrencies soar exponentially on the exchange above their market prices.
Meanwhile, a number of users are complaining on social media that their deposits were not credited to their accounts and they could not withdraw their funds from the exchange. This has caused many to suspect an exit scam.
Livecoin subsequently posted a message on its website on Christmas Eve asking customers to stop using its services. “Don’t deposit funds, don’t trade, don’t use API,” the notice reads, adding:
We are under a carefully planned attack, which has been prepared, as we assume, over the last few months. We lost control of all our servers, backend and nodes.
The notice continues, “we were not able to stop our service in time … We are working in contact with local police authorities. We really do our best to overcome this issue.”
This article is sourced from:https://news.bitcoin.com