Livecoin Exchange Announces Closure After December Hack
Following an alleged December breach, the trading platform now says it will close and repay users any remaining funds.
Livecoin Exchange Announces Closure After December Hack
Cryptocurrency exchange Livecoin announced Saturday it will shut down after a claimed attack on the platform last month.
- The Russia-based exchange said in a website notice on an alternative domain that it had made a “hard decision to close the business” and will be refunding any remaining funds to users.
- No amount for losses arising from the breach was disclosed. The firm said: “Our service and team bear hard losses as well as our clients.”
- Livecoin said it will accept claims for refunds until March 17, after which no new requests will be accepted.
- Users will need to email the exchange and pass verification procedures before they can be awarded refunds, the post said.
- In December, Livecoin claimed to have suffered what it called a “carefully planned attack in which it had “lost control” of its servers, backend and nodes.
