Cryptocurrency trading platform Livecoin claims it was hacked after the crypto community noticed the price of bitcoin skyrocketed to half a million dollars. Meanwhile, users are complaining that they cannot withdraw their funds as they suspect the exchange of an exit scam.
$ 500K per Bitcoin on Livecoin Exchange
Russian cryptocurrency exchange Livecoin claims it suffered a security breach over Christmas after the crypto community saw the price of bitcoin and other cryptocurrencies on the exchange rise exponentially above their market prices.
Meanwhile, a number of users on social media are complaining that their deposits were not credited to their accounts and that they were unable to withdraw their money from the exchange. This has led many to suspect an exit scam.
Livecoin then posted a message on its website on Christmas Eve asking customers to stop using its services. “Don’t deposit, trade, use API,” the message reads, adding:
We are under a carefully planned attack, which we assume has been prepared in recent months. We lost control of all our servers, backend and nodes.
The communication continues: “We could not stop our shift in time… We are working with the local police. We are really doing our best to resolve this issue. “
Do you think Livecoin is exit scamming? Let us know in the comments below.
Image Credits: Shutterstock, Pixabay, Wiki Commons, Livecoin
Disclaimer: This article is for informational purposes only. It is not a direct offer or invitation to an offer to buy or sell, or a recommendation or endorsement of products, services, or companies. Bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.