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Livecoin to refund users their stolen funds before closing

  • Thread starter Thread starter Josemendez
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Josemendez

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Recall that December 2020 saw the cryptocurrency exchange site livecoin hacked , and the sites user's funds were all stolen. Livecoin have since then be on the plan on how to refund their users.

News gathered on 18 January 2021 has shown that the exchange site has announced their closure ,as they can't continue to operate die to the hack . They have also order affected users to fill their report on their missing funds with their transaction Id , they have until March to apply for refund
 
Josemendez said:
Recall that December 2020 saw the cryptocurrency exchange site livecoin hacked , and the sites user's funds were all stolen. Livecoin have since then be on the plan on how to refund their users.

News gathered on 18 January 2021 has shown that the exchange site has announced their closure ,as they can't continue to operate die to the hack . They have also order affected users to fill their report on their missing funds with their transaction Id , they have until March to apply for refund
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This is the right step in the right direction, this will boost investors confidence in crypto currency, if other projects will tread the same step, assuring investors that in the even that such happens.

But will they reimburse in livecoin, BTC, ETH or Dollar???
 
This is a good idea and smart concept from the owner of the live coin platform. At least it will save Investors who have money in the coin some stress from thinking they have lost all the money they invested in the coin. Crypto currency owners and PLATFORM owners should also try to strengthen their security system from cyber attack and hacking
 
This is the major reason why financial websites need to have a very strong security all for the protection of all the available funds, i hope they would be able to complete all refunds, if not they would definitely be labelled as scams, one needs to invest only substantial amount which you won't feel bad when lost.
 
Kayzzy3 said:
This is the right step in the right direction, this will boost investors confidence in crypto currency, if other projects will tread the same step, assuring investors that in the even that such happens.

But will they reimburse in livecoin, BTC, ETH or Dollar???
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They will surely reimburse users in the coin that was stolen from them .if you lost ethereum ,you will get your ethereum back ,but you have to pass the requirements which include sending your transaction hash and other personal data . Is sad that this happened ,but is good they are reimbursing .
 
Josemendez said:
Recall that December 2020 saw the cryptocurrency exchange site livecoin hacked , and the sites user's funds were all stolen. Livecoin have since then be on the plan on how to refund their users.

News gathered on 18 January 2021 has shown that the exchange site has announced their closure ,as they can't continue to operate die to the hack . They have also order affected users to fill their report on their missing funds with their transaction Id , they have until March to apply for refund
Click to expand...
If this were true, it's indeed a good step as this will make investors have much more confidence on the genuineness of the website. but after this has been done, the system should be upgraded to avoid a further repeat of such issue. It's not everyone that will actually get this refund.
 
Akinwale701 said:
If this were true, it's indeed a good step as this will make investors have much more confidence on the genuineness of the website. but after this has been done, the system should be upgraded to avoid a further repeat of such issue. It's not everyone that will actually get this refund.
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Actually the site is going to close because they have really lost a lot of money that ,it won't be easy for them to continue their business. This is why they are trying to pay those that were affected by the hack .this is quite a sad end for them
 
It is a really sad story because this is one coin that had so much prospect. The management seemed so genuine and this is an act of class from them. They should go back to the board and recreate something based on the knowledge they have with better security.
 
This is really sad news, something has to be done about this kind of frauds. I remember Binance suffering this kind of hack last year even though it was not on this kind of scale. Businesses can't survive in this kind of environment if fraud is a major mainstay. At least they are making sure they pay all holders of coin before closure.
 
Please will this closure also affect the litecoin wallet?what about the coin itself? What is the future of the coin, will it still be operation? Or are they removing the coin entirely? Please this is a serious issue and I need an answer as soon as possible so I will know what to do now, or should I withdraw my litecoin?
 
If the love current cryptocurrency exchange platform can refund all their customer's lost funds. it will translate to the fact that the cryptocurrency owners are actually very genuine and honest. I will definitely want to be in the next project that they come up with in the future.
 
Never heard of livecoin exchange or even the news of this exchange being hacked. Is there any news regarding refunding the stolen funds from livecoin exchange?
 
Most of the old and shit tokens were listed in livecoin exchange. I remember most of the airdrop tokens were listed in livecoin and hotbit usually , so these 2 exchanges are not of the high standard and cant be compared to Binance or gate.
 
I hope they can bear the loss but it is also advise to keep some company data safer to avoid hackers from having access into it.
 
This is a good development from the crypto currency exchange Business. I think the best way forward for them now is to come back stronger with a strong and tight security system
 
This is actually a good gesture on their part and I'm sure the users would appreciate although they would need to improve on their security on the future so that the same does not happen
 
trying to live up to their agreement with thier customers, but i think they would be on the losing side.
this also should be a lesson to other crypto enthusiat.
any thing on the internet can be hacked when you do not keep your information private, be it personal or business.
learn how to privatise your data so to keep it away from bugs
 
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