CyberNews Briefs

Russian crypto-exchange Livecoin hacked after it lost control of its servers

On December 24, Russian cryptocurrency exchange Livecoin released a post stating that they had been the target of a cyberattack leading to loss of control over some of its servers. The warning advises customers to temporarily refrain from using its services, including depositing funds, making trades, and using API. The hack seems to have occurred between December 23 and 24. Livecoin stated that their channels were compromised as well and that they had contacted law enforcement to get services back as soon as possible and investigate the details of the attack.

Cybercriminals appeared to have taken control of the Livecoin infrastructure, although it is unknown what specific techniques were used. Livecoin claims that the attack was sophisticated and was likely thought out and planned for a number of months. Livecoin has been active since March 2014 and is currently the 173rd largest cryptocurrency exchange on the net, boasting $16 million in daily transactions. During the attack, its exchange rates were altered by the threat actors to unrealistic values. The Bitcoin exchange rate had been changed from $23,000/BTC to $450,000/BTC.

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