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Hackers hacked the Russian cryptocurrency exchange Livecoin and raised the rate of cryptocurrencies 10-15 times
Russian cryptocurrency exchange Livecoin warned users on its official website on Christmas Eve that it was hacked after a hacker attack and lost control of some of its servers. In this regard, the exchange warned customers about the suspension of cryptocurrency exchange operations.
According to social media posts, the hacker attack took place on the night of December 23-24. Taking control of the infrastructure of Livecoin, hackers have changed cryptocurrency exchange rates to gigantic values. For example, the bitcoin exchange rate increased by the efforts of hackers from $ 23,000 to more than $ 450,000 per unit, Ethereum increased in price from $ 600 to $ 15,000 in the exchanger, and the price of Ripple’s XRP token rose from $ 0.27 to more than $ 17. It is reported that shortly after the hack, the crypto exchange suspended the withdrawal of funds, and its employees stopped communicating and deleted accounts in messengers.
After changing exchange rates, attackers began to cash out accounts, thereby seizing significant funds.
In a posting on their website, the Livecoin administrators described the incident as a “carefully planned attack” that was apparently being prepared over the past few months. “At the moment we have some control over the interface, so we can post this ad,” they added.
Livecoin also announced that it notified law enforcement agencies about the incident. As is the case with most cryptocurrency exchanges hack, several users stated that it was carried out by the exchange itself.
According to CoinMarketCap, Livecoin is ranked 173rd among cryptocurrency exchanges with approximately $ 16 million in daily transactions. The crypto exchange website has been operating since March 2021.