The Russian cryptocurrency exchange Livecoin has shut down amid accusations that it has pulled an exit scam. Customers are unable to withdraw their funds and have been asked to provide extensive identifying information which they fear would lead to identity theft. The exchange claims that it was hacked in December.

Livecoin Crypto Exchange Closes Down

The Russian cryptocurrency exchange Livecoin announced Saturday the decision to close down its platform.

The exchange claimed in December that it was hacked. As reported, hackers supposedly manipulated the prices of several major cryptocurrencies, including bitcoin whose price shot up to $500K on the platform. Since the incident, users have been trying to get their funds out of the exchange with no success, which has led many to believe that the platform’s operator pulled an exit scam.

The announcement, posted on the Livecoin website in English and Russian on Saturday, reads:

Our service has been damaged hard in technical and financial…

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