The lesser-known Russian cryptocurrency exchange Livecoin suddenly closed after an alleged hacker attack on Christmas Day. According to the Livecoin website, the exchange experienced a “carefully planned attack” that resulted in the platform losing control of all servers, backend, and nodes.

The exchange urged clients to stop using services, including deposits, trading and APIs. We were unable to stop the service in time. Our news channels have also been hacked. For now, we have partial control over the interface, so we can distribute this ad, says the Livecoin website.

Livecoin said it was working hard to regain control of its servers and promised to provide a security update “within the next few days”. The exchange also claimed that it was cooperating with “local police authorities.”

According to some reports, the accident occurred on the night of December 23-24. Apparently, the hackers have managed to take over Livecoin’s infrastructure and set abnormally high prices on the exchange.

The co-founder of YellowBlock, a cryptocurrency educational site known as Cryptorangutang, said on December 24 that Bitcoin (BTC) on the platform exceeds $ 320,000 per coin. “In any case, I don’t recommend trying to win the dollar.” If you tweet about it, your funds are likely crashing.

According to unofficial Telegram Livecoin group exchange user comments, the exchange is not operating at the time of publication, although the exchange had opened the login page for a short time. Some Reddit users have also suggested that Livecoin “hacking” may be a classic exit scam.

Livecoin did not immediately respond to Cointelegraph’s request for comment. It appears the exchange has no official Twitter or Telegram accounts on social media.

At the time of publication, Livecoin trade volumes were not available on major cryptocurrency tracking sites such as CoinGecko and CoinMarketCap. As of December 24, Livecoin is ranked 173rd among cryptocurrency exchanges with a daily trading volume of around $ 16 million.

Source: CoinTelegraph