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Livecoin Exchange Announces Closure After December Hack

The trading platform now says it will close and repay users any remaining funds.

Jan 18, 2021 at 12:54 p.m. UTC
Updated Sep 14, 2021 at 10:57 a.m. UTC

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.

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