Livecoin - Exchange Review

Livecoin launched as a mid-tier centralized exchange offering a variety of crypto assets and modest fees. It briefly attracted users seeking anonymity and wide coin support. However, a devastating hack in late 2020 led to its abrupt closure in early 2021, and it has remained offline ever since.

1. Rise and Demise

Founded in the mid-2010s, Livecoin built a modest user base by offering KYC-light access, fiat deposit options in USD, EUR and RUB, and hundreds of trading pairs. Its ecosystem looked solid enough - until a critical attack hit in December 2020, compromising hot wallets and core infrastructure. The breach was severe enough to force permanent shutdown by mid-January 2021.

2. Aftermath and Closure

Following the hack, Livecoin issued a statement promising to reimburse users claiming losses before a deadline in March 2021. However, no official record confirms whether this happened, and the platform remains offline under a defunct domain.

3. What Worked

• Historically low fees, around 0.05% maker and taker
• Wide coin selection with both crypto and fiat options
• No KYC requirement for small accounts

These features attracted users who valued flexibility and anonymity - until security issues derailed operations.

4. Why It Faded

• Major hack drained funds and crippled operations
• Support and withdrawal systems shut down mid-2021
• No activity since - daily volume remains beneath $200
• Subjective security and corporate opacity eroded trust

5. Current Reality

Livecoin now functions as a crypto relic, not an exchange:

• Platform is offline with no trading functionality
• No on-chain volume or TVL
• Domain and support infrastructure vanished
• No recent updates or activity since shutdown

Its past presence is only visible in archive records and user memory.

6. Risk Impact

• Funds likely lost or unrecoverable
• No live service for deposits, trading, withdrawals
• Lack of transparency before shutdown worsened user trust
• Centralized backend with poor fault tolerance exposed major vulnerabilities

7. Snapshot Summary

8. Final Verdict

Livecoin is no longer active. Despite once offering useful features like low fees and crypto-fiat access, a catastrophic hack destroyed its ability to operate. Today it’s a cautionary tale - highlighting the dangers of weak security and opaque infrastructure in centralized exchanges. There is no reason to engage with it. Modern traders should look elsewhere to avoid repeating history.