Livecoin, a lesser-known Russian cryptocurrency exchange, abruptly shut down after a suspected hacker attack on Christmas Day. According to Livecoin main page, the exchange suffered a “carefully planned attack” that resulted in the platform losing control of all servers, the backend and the nodes.
The exchange asked its customers to stop using their services including deposits, trading and API. “We couldn’t stop our service in time. Our news channels have also been compromised. At the moment we are partially controlling the front end and can therefore place this announcement, “says the Livecoin main page.
Livecoin said it was working hard to regain control of its servers and promised to roll out a security update “in the next few days”. The exchange also claimed that it was working with “local police agencies”.
The incident reportedly took place on the night of December 23rd to 24th. Hackers have apparently managed to take over the Livecoin infrastructure and to change the prices on the stock exchange to unusually high values.
A co-founder of YellowBlock, a crypto education website called “Cryptorangutang,” said that Bitcoin (BTC) exceeded $ 320,000 per coin on the platform on Dec. 24. “Whatever is going on, I don’t recommend trying to make $ On this one, you will most likely get your money stuck,” he wrote on Twitter.
According to comments from Exchange users in the unofficial Telegram group of Livecoin, the Exchange is not operational at the time of publication, although the Exchange briefly opened a login page. Some Reddit users also suggested that Livecoin “hack” could be a classic exit scam.
Livecoin did not immediately respond to Cointelegraph’s request for comment. The exchange does not appear to have any official social media accounts on Twitter or Telegram.
At the time of writing, Livecoin trading volumes are not available on major crypto tracking websites such as CoinGecko and CoinMarketCap. As of December 24th, Livecoin was reportedly 173 among the crypto exchanges with a daily trading volume of around $ 16 million.