We previously discussed in Bitcoin the Arabs about the hacking of the “Livecoin” platform for cryptocurrency trading:

Cryptocurrency exchange Livecoin hacked after losing control of its servers

After the alleged hack last December, the platform announcedLefquin“The Russian cryptocurrency exchange will close its doors, but before that it will refund its users.

Reasons for closing the “Livecoin” platform:

The statement of the “Livecoin” platform stating the closure of the platform came as follows:

Our service has been hit hard both technically and financially.

There is no way to continue the business in these circumstances, so we make the difficult decision to close the company and pay the remaining funds to the clients.

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The attack on the “Livecoin” platform occurred at the end of December 2020, when the price of Bitcoin was rising above the $20,000 level.

On December 23, when the largest cryptocurrency by market capitalization was trading at $23,000, its price on Livecoin soared to $450,000 in an unprecedented incident.

On the eve of December 25, trading platform Livecoin said it had fallen victim to a carefully planned attack and had lost control of some of its servers, warning customers to stop using its services.

According to some press reports The hackers stole 106 Bitcoin, 380 Ethereum, 236 Bitcoin Cash and more than 500,000 Ripple coins.

In addition to the unknown amounts of the stable cryptocurrency “Tether”.

The funds associated with Ethereum were transferred to DAI using the decentralized exchange Uniswap, while a large portion of the remaining cryptocurrency was sent to the cryptocurrency exchange KuCoin.

Users now have until March 17th to claim their money back, with the platform warning of any potential fraudulent activity that mimics the platform’s official channels.

As Livecoin reported:

Do not send money to anyone.

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You do not have to pay to get your money back from us, the only thing you need is to submit an application and follow the simple procedures we suggest.

The warnings came after some users complained that email addresses provided to the “livecoin” platform had been negatively exploited.

Also, the constant warnings from the platform come after hackers hacked all the official ports of the platform.

According to several customers, refund requests were sent, but they were asked to provide certain information, including their first deposit details, scanned copies of government-issued ID cards, proof of residential address, a personal photo with ID and a piece of paper with a registration date on the “Livecoin” platform. And the most used device for trading on the platform and proving the source of funds…

In the midst of these exaggerated requirements, users, on their part, are calling for an investigation to be opened and to reveal the exact circumstances of what happened.

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It is worth noting that the “Livecoin” trading platform has been active since April 2015, with the daily trading volume of the platform amounting to about $16 million before the unfortunate events of December.

According to the archives of the Russian State Patent Service, the Livecoin platform until 2018, was operated by London-based DELTA E-COMMERCE LTD, with the entry of RED Velvet Investments LTD later.

However, the real names behind the livecoin trading platform remain a mystery.

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