Bitcoin Hits $500K on Russian Crypto Exchange After Hackers Take Control — Users Cry Exit Scam

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Cryptocurrency trading platform Livecoin claims it was hacked after the crypto community discovered that the price of Bitcoin shoots was up to half a million dollars. Meanwhile, users are complaining that they cannot withdraw their money, suspecting the exchange of an exit scam.

500,000 USD per Bitcoin at Livecoin Exchange

Russian cryptocurrency exchange Livecoin claims to have suffered a security breach over Christmas after the crypto community watched the price of Bitcoin and other cryptocurrencies on the exchange rise exponentially above their market prices.

Bitcoin was reportedly trading at around $ 500,000 while ETH topped $ 15,000 and XRP surged above $ 17. On other exchanges, BTC is currently trading at around $ 24,813, ETH at $ 630, and XRP at $ 0.31.

The price chart of Bitcoin in USD on the Livecoin exchange shows 500,000 USD per Bitcoin.

In the meantime, some users on social media are complaining that their deposits were not being deposited into their accounts and they were unable to withdraw their funds from the exchange. This has led many to suspect an exit scam.

Livecoin then posted a message on its website on Christmas Eve asking customers to stop using their services. “Don’t deposit any money, don’t trade, don’t use API,” the message reads, adding:

We are undergoing a carefully planned attack which we believe has been prepared over the past few months. We have lost control of all of our servers, backends and nodes.

Bitcoin hits $ 500,000 on Russian Crypto Exchange after hackers take control - users cry when scam endsThe notice published on the Livecoin exchange.

The message goes on to say: “We were unable to stop our service in time. We work in contact with the local police authorities. We’re really doing our best to resolve this issue. “

Do you think Livecoin will end cheating? Let us know in the comments below.

Photo credit: Shutterstock, Pixabay, Wiki Commons, Livecoin

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