Russian crypto exchange Livecoin is shutting down after a claimed attack that caused a $3.3 million loss to users
January 18, 2021, 8:15AM EST
1 min read
Russian cryptocurrency exchange Livecoin has announced that it is shutting down after witnessing a "carefully planned attack" last month.
"Our service has been damaged hard in technical and financial way," saidLivecoin on Saturday. "There is no way to continue operative business in these conditions, so we take a hard decision to close the business and paying the remaining funds to clients."
It is not clear how much money is left. Livecoin also never announced how much money its users lost in the so-called server attack. According to The Block Research, users lost at least $3.3 million worth of funds at the attack time. The current value of those funds is more than $5.4 million.
In terms of coins and tokens, Livecoin users lost 106 bitcoin (BTC), 380 ether (ETH), 236 bitcoin cash (BCH), 567,000 XRP, 66.8 million DOGE, 56,000 Tether (USDT), and some other ERC-20 tokens, per The Block Research.
Data on the remaining funds isn't clear, and Livecoin could not be contacted by press time.
"Our clients have to contact us via email [email protected] to get payments after passing verification procedure. We accept claims for payments for the next 2 months. 17 March 2021 is the last day of accepting your requests, after this date no new requests will be accepted," Livecoin said in the announcement.
The Block Research was commissioned by Forte to create “Blockchain-Based Gaming: A Primer” which provides a comprehensive introduction to how blockchain technology is being employed in video gaming experiences.
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