• Fri. Jun 21st, 2024

Livecoin Crypto Exchange Advises Its Users Not To Conduct Any Crypto Transactions

Dec 25, 2020

After EXMO’s hack, another pre-planned attack occurs at another crypto exchange – Livecoin. Loses its control over its servers and advises customers not to take on any crypto transactions for the time being.

 A recent hack attack had occurred to another crypto exchange platform called Livecoin.

Livecoin is one of the popular crypto trading platform in Russia whose daily trade volume is over US$ 50 Million.

It was informed by Livecoin’s official that a hack attack was caused upon its trading platform. In the attack, the exchange lost control over its servers to the hackers and still could not get the control back. The firm also revealed that apart from servers, it had also lost control of nodes. The spokesperson said that they were taken by surprise and couldn’t do much to prevent the hack.

In a recent message, the firm had issued a public message in which it had requested its customers to be careful. It was also advised to the customers not to engage in any crypto transactions of any kind from the exchange’s platform.

So far the news suggested that the firm only lost control over its nodes and servers. For the time being no report of monetary theft had been reported. However, the possibility of monetary theft too cannot be ignored.

However, as an immediate measure, the exchange had issued a public notice in which the firm had pleaded customers not to use the platform. It was also urged in the notice that till further notice, customers should refrain from trading, depositing or withdrawing any funds. It was also reported that the firm had been partially controlling the exchange platform. But the majority control is still within the hands of the hackers, said the spokesperson.

The spokesperson also revealed that for the past couple of days the daily trade volume of the exchange had increased manifold. He said that the daily trade volume recorded in the past 24 hours was well above US$ 805 Million. He said that the ongoing hack is a pre-planned attack in order to jeopardize the growing business of the firm.

The Russian Law Enforcement agencies had taken over the investigation and trying to find the leads of the criminals.

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