Part of Livecoin’s stolen funds ended up on KuCoin

Unknown actors transferred the XRP coins stolen from the Livecoin cryptocurrency exchange to the KuCoin trading platform, according to analysts at XRP Forensics.

XRP from Livecoin that was recently defaced(?) are being moved to @kucoincom these minutes. KuCoin, please stop them and DM for further information.

— XRP Forensics (xrplorer.com) (@xrpforensics) January 13, 2021

Experts urged KuCoin to block these incoming transactions and contact them for further information. According to available information, this concerns 567 012 XRP.

In addition, the attackers stole 106 BTC, 380 ETH, 236 BCH, 66.8 million DOGE, 56,000 USDT, and an unnamed amount in ERC-20 tokens. All Ethereum-denominated funds were converted to the stablecoin DAI via the Uniswap contract.

Affected Livecoin users from Russia created a Telegram chat, in which they unite efforts to file a collective complaint with the authorities. Some clients have begun filing police reports themselves.

On December 24, the price of bitcoin on Livecoin surged to hundreds of thousands of dollars, and withdrawals from the platform became unavailable.

At the same time, director Svetlana Geller deleted her Telegram account. Users suspected that the founders of the platform committed an exit scam.

Soon a message appeared on the homepage of the site of the recently hacked Livecoin with a demand for payment in bitcoins. Now this message is supplemented with the phrase: “Oops! Time’s up, Livecoin…”.

On January 3, representatives of Livecoin announced that they had moved to a temporary domain Livecoin.news and noted that they had partially restored access to media channels.

They did not specify a precise date for the platform to resume operations.

KuCoin exchange was also hacked in late September 2020. Analysts put the damage from the breach at $280 million.

Subsequently, the platform managed to recover 84% of the stolen funds through blockchain transaction tracing, updating smart contracts and legal action.

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