Greetings to all!
Today I would like to share with you my not quite successful experience. As soon as I started my blog on Steemit and Golos in 2017, I registered on the exchange as well livecoin.net. I liked their simple interface, everything was very clear for a beginner like me. All three years I was on the site, something I liked, and something caused a protest, for example, when they made a delist of the monero coin and I had to sell it cheap.
But the most incredible thing began on the stock exchange on December 23, 2020, just before the Catholic Christmas. On the evening of December 23, I went to the site and saw that the price of BTC increased from $ 20,000 to $ 100,000. Participants became active, made their bets, increasing their deposit several times. Someone quickly realized that they should transfer the resulting profit to less popular altos and withdraw money to other wallets and other exchanges. I am not such an advanced trader to do all this correctly, and I did not believe that the exchange succumbed to a hacker attack and that soon the entrance to the site will be closed!!
And on December 24, when I woke up in the morning, I already, as you understand, could not go to the exchange, my account and all the others were blocked. A new channel opened in Telegram - victims of the actions livecoin.net The leaders of the exchange left an announcement on the website that the exchange livecoin.net it was subjected to a hacker attack and it is not possible to pay the funds to the participants. The database is stolen, the entrance is closed. And I had almost 1400Usdt there.
Within six months, I had to achieve my payments. During this time, BTC fell twice, many alts updated their maximum values. And there was no way to get money. It was only in January that the exchange's executives contacted the participants, because many news publications on cryptography published articles about deception and fraud by the managers livecoin.net I still do not know whether it was really a hacker attack, or whether the managers staged it to take advantage of the funds of investors.
At the moment, after 6 months of negotiations with the exchange, providing many other documents confirming my identity, the exchange finally paid me 1372 USDT. The epic is over. Everything seems to be fine, but the residue of dissatisfaction remains.
Still, I would like to be confident in the exchanges on which I trade. I would like the security system of these exchanges to be at a high level. I would like managers to value their customers, as they earn commissions on our transactions, their income. Only in this way will the cryptocurrency market inspire confidence by market participants.
Business reputation in business is the most important element of business!!!
What do you think about it?
I would recommend to take your cryptocurrencies out of centralized exchanges. Keep them in a cold or hardware wallet instead. That's the safest way. Only send it to centralized exchanges to trade and move them back again. Centralized exchanges are better than decentralized exchanges as they are cheap, fast and easy to use. But you have to be careful as too often centralized exchanges get hacked.
Yes, I agree with your opinion and fully support it. I would like to buy a hardware wallet for a long time, but I still can't order it by mail. But I'll do it. Thank you for reading and giving me some superb advice.
Great report, this is good for us to be smart!Thank you for your support. Yes, we need to be very careful and careful. Always keep the situation under control.
I would never put my money back in that livecoin.net. this is unacceptable, a tradingsite needs not only to save, but also stable and at least backedup in case of hacks or crash. And they need enough capital to cover all assest. I am crypto beginner also, I like to use coinbase and coinbase pro combination.
No, I won't invest another dollar in livecoin.net My Bittrex and Binance exchanges.