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.

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Tanzeel Akhtar

Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.