Bitcoin Hits $500K on Russian Crypto Exchange After Hackers Take Control — Users Cry Exit Scam | Exchanges Bitcoin News

Bitcoin.com

Cryptocurrency trading platform Livecoin claims that it has been hacked after the crypto community noticed the price of bitcoin shoot up to half a million dollars. Meanwhile, users are complaining that they cannot withdraw their funds, suspecting the exchange of pulling an exit scam.

$500K per Bitcoin on Livecoin Exchange

Russian cryptocurrency exchange Livecoin claims that it suffered a security breach over Christmas after the crypto community observed the price of bitcoin and other cryptocurrencies soar exponentially on the exchange above their market prices.

How To Get Free Crypto  

Bitcoin was reportedly trading at about $500,000, while ETH surpassed $15,000, and XRP rose above $17. At other exchanges, BTC is currently trading at around $24,813, ETH at $630, and XRP at $0.31.

Bitcoin’s price chart in USD on the Livecoin exchange showing $500k per bitcoin.

Meanwhile, a number of users are complaining on social media that their deposits were not credited to their accounts and they could not withdraw their funds from the exchange. This has caused many to suspect an exit scam.

Livecoin subsequently posted a message on its website on Christmas Eve asking customers to stop using its services. “Don’t deposit funds, don’t trade, don’t use API,” the notice reads, adding:

We are under a carefully planned attack, which has been prepared, as we assume, over the last few months. We lost control of all our servers, backend and nodes.

The notice posted on the Livecoin exchange.

The notice continues, “we were not able to stop our service in time … We are working in contact with local police authorities. We really do our best to overcome this issue.”

Coinbase Banner  

Do you think Livecoin is exit scamming? Let us know in the comments section below.

Tags in this story

Image Credits: Shutterstock, Pixabay, Wiki Commons, Livecoin

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any 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.

Read disclaimer

Go to Source
Author: Kevin Helms


Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.