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ID:

livecoin-422

Date:

Status:

Incident Count:

December 24, 2020

Verified

1

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REKT

Contributor:

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zerofriction.io

KYC By:

KYC:

None

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Audit By:

Audits:

None

Loss Amount:

-

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Recovered:

-

Rewards:

Currency:

USD

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Key Indicators

Platform:

Type:

Category:

Method:

Data Sources:

Exchange

Assets

Scams

Extended Method:

Server compromised, Rug Pull

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Days in Operation:

0

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Russian cryptocurrency exchange Livecoin posted on message on its official website on Christmas Eve claiming it was hacked and lost control of some of its servers, warning customers to stop using its services. According to posts on social media, the attack seems to have 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 and unrealistic values. As previously reported by ZDNet, the alleged cyberattackers seizing control of Livecoin systems in order to tamper with exchange rate values. Bitcoin (BTC) exchange rates were changed from $23,000 at the time to over $450,000, and Ethereum grew from $600 to $15,000. Smaller cryptocurrency rates were also impacted.

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