It was back in December of 2020 when a cryptocurrency exchange based in Russia ‘Livecoin’ suddenly announced that it had halted its operations. At that time, the exchange did not clarify as to how long it was going to keep its services ceased for the users.

As per the latest reports, the exchange has confirmed that it is permanently shutting down its operations as a cryptocurrency exchange. The exchange has made the announcement through its website and has also provided the reasons for it not being able to continue its services.

The announcement suggests that the exchange faced a lot of technical and financial damages as a result of a hack. The exchange alleged that it faced a lot of damages due to the cyber-hack that took place on its servers back in 2020.

On the Twitter platform, Livecoin made the announcement of its operations shutting down on January 16, 2021. In the announcement, the exchange also announced that its old domain (Livecoin.net) was no longer available. Therefore, the exchange provided the address to its new domain that is Livecoin. news.

However, the exchange has announced that it is not going to let down its users and is more than willing to pay back its users. The exchange announced that it will be paying all of its user’s and clients’ remaining funds back to them and leave on a good note.

The exchange has announced that in order to claim their funds, the users need to send an email over to the exchange. The email needs to have all the information that would help the exchange complete verification on their profiles.

In the initial phase, the users are required to send their username and date of joining so the process can be moved to the second phase.

The exchange has provided assurity to the users that the exchange will be replying to their emails with authentic and detailed information. The email will carry the next steps for claiming their remaining funds from the exchange. The final date for submitting claims with the exchange is March 17, 2021.

The firm has made a clear announcement that once the window has been closed, no new requests for fund claims will be accepted or approved. Although the exchange has made very promising claims surrounding the reimbursement, it has not confirmed when the customers will be paid back.

The exchange has requested all its users to be vigilant and alert stating that this could prove to be the best opportunity for the scammers to get into action.

Therefore, it is extremely important for the users to not get involved in any groups that are responsible for spreading wrong and misinformation. The firm has requested users not to participate in any groups and only connect with Livecoin for any queries they may have.

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