Livecoin Exchange Shutdown: What You Need to Know About the Bitter End

The Sudden Shutdown of Livecoin

In a turn of events that no one saw coming—unless you were a psychic hamster or something—Livecoin, a Russian cryptocurrency exchange, has thrown in the towel. The exchange went from bustling marketplace to ghost town faster than you can say ‘digital coin.’ On January 16, 2021, Livecoin announced via Twitter that it was shutting down for good, following its abrupt operational halt in December 2020.

Reason for the Closure: An Alleged Cyber Attack

According to Livecoin, their demise was precipitated by a “carefully planned attack” on their servers back in late December. They claim this cyber chaos inflicted financial and technical damage that left them unable to continue operations. To put it in layman’s terms, it was like a huge digital heist where they lost the keys to their virtual vault—and we all know how annoying that can be!

Reimbursement Process

Not wanting to abandon their loyal customers completely, Livecoin made a very subtle promise to reimburse remaining funds, albeit with a compliance process that sounds as complicated as a Rubik’s Cube. Users were asked to send their usernames and the registration date to initiate the refund procedure. A little hint: if you can’t remember the last time you logged in, this might not be your lucky day.

• Verification requires:
• Username
• Registration date

“The reimbursement claims will be accepted until March 17, 2021,” they warned. Better hurry folks, time is ticking!

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