Livecoin Crypto Exchange Shuts Down A Month After Cyber Attack

Roughly a month after having suffered a severe blow from a cyber attack, Livecoin cryptocurrency exchange is out of business. As announced, the Livecoin exchange now shuts down while assuring to refund all clients their remaining funds.

Livecoin Cryptocurrency Exchange Shuts Down

In December 2020, on Christmas eve, Livecoin cryptocurrency exchange suffered a huge cyber-attack. At that time, the exchange disclosed to have lost control of its servers. All they possessed was mere access to the frontend that allowed them to alert the users.

The sudden disruption of its services troubled users, compelling many to suspect an exit scam. However, the exchange informed everyone about the cybersecurity incident as well as asking them to stop any transactions.

Now, the Russian crypto exchange Livecoin has said goodbye to all as it shuts down. As evident from the announcement they posted on their website, the exchange has suffered irreparable losses. Hence, they have no viable options left to run the business.

Investigation is in active phase right now. Our service has been damaged hard in technical and financial way. There is no way to continue operative business in these conditions, so we take a hard decision to close the business and paying the remaining funds to clients.

Assures Refund To All Clients

While people suspected an exit scam, Livecoin has communicated clearly that they will be refunding clients.

They have asked all to send refund requests along with the verification details to the exchange via email at ‘[email protected]’. The exchange will continue accepting the requests for the next two months, halting the process on March 17, 2021.

Moreover, they have also warned everyone not to fall for any fraudulent schemes or Livecoin impersonations.

We have to warn you about tons of fake groups in different messengers and other channels, where people represent themselves as our team members, insiders, hackers etc. Participating in these groups you run a high risk, because we have no any groups. The only official statements are made on this website.

All Livecoin clients should remain wary of any offers, groups, or schemes that ask money when claiming a refund.

Abeerah has been a passionate blogger for several years with a particular interest towards science and technology. She is crazy to know everything about the latest tech developments. Knowing and writing about cybersecurity, hacking, and spying has always enchanted her. When she is not writing, what else can be a better pastime than web surfing and staying updated about the tech world! Reach out to me at: [email protected]

Source: https://latesthackingnews.com/2021/01/20/livecoin-crypto-exchange-shuts-down-a-month-after-cyber-attack/

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