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Crypto Exchange Livecoin Suffers After Losing Control of Servers

Crypto Exchange Livecoin Suffers After Losing Control of Servers
  • Russian cryptocurrency exchange Livecoin posted on its official website on Christmas Eve claiming it was hacked and lost control of its servers.
  • According to some social media posts, the attack happened on the night between December 23 and December 24.
  • Hackers appear to have taken control of the Livecoin infrastructure and then proceeded to modify the exchange rates to gigantic values.
  • Livecoin is begging customers to stop using its services.

Livecoin posted on its official website on Christmas Eve, claiming it lost control of its servers because of hackers.

According to some social media posts, the attack happened on the night of December 24.

Hackers appear to have taken control of the Livecoin infrastructure and then proceeded to modify the exchange rates to gigantic values.

The attackers modified exchange rates to enormous values. Bitcoin was reportedly trading at about $500,000, while ETH exceeded $15,000. Meanwhile, at other exchanges, BTC is currently trading around $24,813, and ETH at $630.



While the main web-based exchange portal is down, Livecoin is now begging users to stop depositing funds. Also, to stop making transactions through other interfaces like the site’s API and mobile apps.

Livecoin described the incident as an event that they assume to be a carefully planned attack. Besides, the team believes the attackers were preparing this over the last few months.

Furthermore, the team wrote that they lost control of their servers, backend, and nodes. Thus, they were not able to stop their service in time. The exchange also said that their news channels were at risk as well.

Moreover, the Russian crypto exchange added that at the moment, they partially control the frontend. That is why they were able to place this report.

As the notice continues, the team also wrote that they are working 24/7 to retrieve their servers, nodes, and funds. Aside from this, they added that news and the next update would come up in the next few days.

Read Also: DeFi Hackers Exploit $20M in Pickle Finance, DAI PickleJar

Roland Guirdonan can be found writing, developing, and designing all sorts of content. Aside from his fascination with content creation, he is also passionate about blockchain and cryptocurrency developments.