Anticipation novel? – Even though Bitcoin (BTC) is exploding from its previous highs and approaching $ 30,000, its price has gone totally crazy on a platform. This is LiveCoin, which is said to have suffered an attack from hackers. The latter would have modified the price of BTC, to the point of giving it values with 6… or even 7 digits !
220,000, then 500,000, then over $ 1 million the BTC
While some strongly believe that Bitcoin will one day hit $ 100,000 , that is pure prediction at this point.
However, this price has been virtually exploded on the Russian crypto-exchange LiveCoin . Indeed, on Christmas Eve, things started to go wrong. The platform then announced to suspend exchanges , following a so-called „technical problem“ which affected the quotation of bitcoin .
Indeed, the price of a BTC had already climbed to an impressive, but unrealistic, $ 220,000 per unit, as BeInCrypto indicates . The price of Ether from the Ethereum Network (ETH) had also increased disproportionately at the same time, to $ 6,500 .
But this was obviously not just a technical concern. LiveCoin users quickly reported on Twitter the message below, which reports intentional price manipulation by hackers :
“Dear customers, we ask that you immediately stop using our services (…) do not deposit or trade [crypto] (…). We are under the blow of a carefully planned attack (…) We have lost control of all our servers (…). “
Crazy prices: a real hack or a hidden exit scam?
Bitcoin and ether prices thus continued to run wild , with BTC first reaching $ 500,000 and ETH reaching $ 15,000 on LiveCoin. At the height of the manipulation, a single bitcoin was worth the colossal sum of $ 1.4 million in the space of an instant.
If some users of the platform cry out for an exit scam rather than a hack, it is because a day before , it was already impossible for them to withdraw their cryptocurrencies from LiveCoin.
As their funds are still blocked at the moment, they fear that those in charge of the platform will leave with the money .
In any case, cryptos have already been withdrawn from LiveCoin, 106 BTC in this case, or more than $ 2.8 million at the time of this writing. Another intriguing fact: the same BTC address was used both for the present incident and for the hack of the EXMO platform committed a few days earlier.