Review on Livecoin by Stephen Toluwani
Livecoin exchange is down 💔
The Livecoin exchange platform has been one of the best and easily accessible exchange to use by traders but after experiencing a hack on has been inaccessible for a month and has planned to shut down finally its services. The exchange has announced that it will be closing down it's servers which has already been hacked by some perpetrators who requested some Bitcoins to release access back to the exchange. Now, the main issues faced by the exchange was the inflated rate in which the hackers introduced to the exchange and made off with some undisclosed amount of money and then took down it's servers. The way the hack was perpetrated, it shows how unreliable many exchange are as pertaining their security infrastructure. It's lack of KYC which drew many to the platform is what will now be required for users to withdraw their held coins on the exchange.
With plans of finally shutting down and refunds on the way to be paid to it's affected users, I will advice every user to get ready their verification documents to provide to the mailing service of the exchange to gain access and withdraw the funds allocated for refunds by the exchange. With a very unresponsive support team, it's best one does it early.
Pros
- Livecoin promises to pay to their best of ability the rest of the funds to their clients
Cons
- The Livecoin exchange has been hacked and is inaccessible as of now
- Slow customer support response
- Total loss of control over the exchange shows how unsecured the exchange was in a long run
- Livecoin exchange has been shut down
