They’re selling Bitcoin at $1,400,000 a second – Buyers are screaming scams – too late!
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. It’s called LiveCoin, which has reportedly come under attack from hackers. The latter would have modified the price of the BTC, to the point of giving it values of 6… even 7 figures!
Although some people firmly believe that Bitcoin will one day reach $100,000, this is purely a prediction for the moment.
Yet this price has been, virtually, exploded on the Russian crypto stock exchange LiveCoin. Indeed, on Christmas Eve, things started to go wrong. The platform Bitcoin Evolution then announced that it was suspending trading, following a so-called „technical problem“ that affected the quotation of Bitcoin.
Indeed, the price of a BTC had already risen to an impressive but unrealistic $220,000 a unit, as BeInCrypto reports. The price of ether from the Ethereum Network (ETH) had also risen disproportionately at the same time, to $6,500.
But this was obviously not just a technical problem. LiveCoin users were quick to report the following message on Twitter, reporting deliberate price manipulation by hackers :
„Dear customers, we ask you to stop using our services immediately (…) do not deposit or exchange [cryptos] (…). We are under a carefully planned attack (…) We have lost control of all our servers (…). »
Delirious prices: real hack or hidden exit scam?
The price of bitcoin and ether continued to go wild, with the BTC reaching $500,000 and the ETH $15,000 on LiveCoin. At the height of the manipulation, a single Bitcoin was worth the colossal sum of 1.4 million dollars in the space of a moment.
The reason why some users of the platform shouted for exit scam rather than hacking is that one day before, they were already unable to remove their cryptomoney from LiveCoin.
As their funds are still blocked at the moment, they are afraid that the platform managers will leave with the money.
In any case, cryptos have already been taken out of LiveCoin, 106 BTC in this case, which is more than 2.8 million dollars at the time of writing. Another intriguing fact is that the same BTC address was used for both the present incident and the EXMO platform hack committed a few days earlier.
Although many were probably hoping that Bitcoin would one day exceed $1 million, it would have been better if it hadn’t been for such a bad reason. It is still a mystery as to the precise nature of this LiveCoin attack, or even whether it was not orchestrated from the inside to disguise an exit scam.