Laukoin (Livecoin), a Russian cryptocurrency exchange, posted a post on its official website on Christmas Eve to inform users of very important news. In this post, it was announced that Livecoin was hacked and lost control of its servers, and for this reason, users were asked to stop using Livecoin services as soon as possible.
According to posts posted on social media, the cyber attack on Livecoin servers appears to have taken place between December 23rd (December 3rd) and December 24th (December 4th). Hackers have apparently been able to take control of the Livecoin infrastructure. They then, with the means at their disposal, adjusted the exchange rates and raised the value of the cryptocurrencies to much higher than normal.
The Bitcoin exchange rate rose from $ 23,000 to more than $ 450,000 before Livecoin administrators could repel the attacks and regain access to the hacked servers at the end of December 24, leaving users in shock. win. The hackers also raised the exchange rate of Atrium from $ 600 to $ 15,000 and the price of Ripple from $ 0.27 to more than $ 17.
When the exchange rate improved, anonymous hackers began emptying their accounts and making huge profits. Livecoin says the recent incident was “carefully planned” and investigations show that the process of preparing hackers for a cyber attack took several months.
Livecoin has lost control of “all servers, back-end and nodes”; This is exactly why he was not able to make his services available in a timely manner after the cyber attacks began. Livecoin says its news channel has also been affected by recent cyberattacks. “At the moment, we have some control over the front-end and that is why we can publish this statement,” the statement continued.
At the time of the cyber-attacks, the main web-based exchange portal was down, and Livecoin asked users to stop the deposit process and trade through other interfaces, such as the website API or mobile apps.
A number of users do not accept Livecoin’s claims and say that the recent incident was under the control of the company’s internal employees. Livecoin has reported the recent incident to local legal entities.
According to CoinMarketCap, Livecoin is currently referred to as the 100th and 70th largest cryptocurrency exchange on the Internet, and the value of daily transactions based on Livecoin is approximately 16,000 GEL. This website started its activity in March 2014 (March 2013 and April 2014).