The Russian cryptocurrency platform "Livecoin" published a message on its official website claiming that it had been hacked and lost control of some of its servers, warning customers to stop using its services.
According to social media posts, the attack appears to have occurred between December 23 and December 24.
It appears that the hackers have taken control of the infrastructure of the "Livecoin" platform and have begun adjusting trading prices to huge and unrealistic values.
Before LIVECOIN moderators could regain access to some of their systems in the last hours of December 24, the price of Bitcoin swelled from $ 23,000 to more than $ 450,000, the Ethereum price was manipulated from $ 600 to $ 15,000, and the ripple price rose from $ 0.27. To over $ 17.
Once the trading prices were adjusted, the unknown attackers began to cash in, and make huge profits.
"Livecoin" platform officials described the incident by saying:
It is a carefully planned attack that has been prepared, we assume, over the past few months.
"Livecoin" platform urges users now to stop depositing money and conducting transactions through other interfaces such as the site's API and mobile applications.
As happens with most cryptocurrency exchange hacks, many users view the entire breach as an insider act.
"Livecoin" is told that they are notifying local law enforcement authorities.
According to CoinMarketCap, the "Livecoin" platform is ranked 173rd for online cryptocurrencies, with nearly $ 16 million in daily transactions.
