Topic: Livecoin.net Scam - page 17. (Read 13656 times)

Someone has done that already with several of the common exchanges.

If you read their entire ToS it can be construed as such. Since they state that they can these things if they "Violate their terms". It is just worded differently and better.

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From their response in this thread they stated that they could/would unlock OP's account, did they not? And if the OP did as LiveCoin claims, threat their staff (we don't have the full details) then there may be more to this than what is being displayed here. This is why I believe some users seem a bit trigger happy. And it does not matter if I agree with you or not, I have in fact messaged LiveCoin (when I first saw this thread) about at the very least remove/change some of the terms in question.

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But now you are just making assumptions of what happened, no? Do you have full records of what was said between the OP and or LiveCoin and their staff? I don't and have seen no such thing as of yet either. If we are to act solely on assumptions then there's some other prominent scam accusation that coincidentally QS is involved in where some of you need to step in and tag the user/s in question.

Quite an eloquent use of vague-enough legalese, carefully crafted to protect binance from having done something they shouldn't have either "accidentally" or intentionally due to some "misinformation."  But note the absence of anything resembling "The Customer guarantees not to disclose any information, obtained from the Service support operator," or "Violation of this rule will lead to the account termination without refunding of the remaining balance of the account," and certainly no mention of "causing troubles."  

So, if I were to hypothetically say "Binance tech support told me Changpeng Zhao's second-cousin's crotch is infested with the fleas of 1000 mangy curs," I'll still be able to access my binance account tomorrow, and don't have to worry about them stealing my money.

Having that term in their TOS doesn't mean they withhold deposits for arbitrary reasons. None of the above cited exchanges are withholding deposits for arbitrary reasons, and to my knowledge are only doing so when there are KYC/AML, probable stolen funds, or very similar issues. Some exchanges also delay withdrawals when they suspect the customer's account is hacked, and when they are upgrading their systems, and performing other maintenance. No exchange is disallowing the withdrawal of a coin for in excess of a year.

Not even close to "causing trouble" or publishing information from customer service.


I think there are at least two somewhat linked but different issues: user's account, and MONA fork/attack.

IMO at the very least Livecoin should unlock the OP's account regardless of "trouble" caused.

Beyond that there is a lot of precedent of how to properly handle forks and other issues, and it would be great if they choose a customer-friendly approach instead of expecting that coin developers (who don't really decide how many confirmations an exchange should wait for a deposit) compensate the losses of a private business. But I would begrudgingly admit that Livecoin can tell the customer to get lost (sell the coins at a loss, withdraw proceeds) and it wouldn't be too different from how most exchanges have treated their customers. Doesn't make it ethical or right, just a sad state of affairs, and probably not against the law in whatever backwater jurisdiction it operates in.

I've never once called the terms shady nor have I said that other exchanges are scams. These are words you and others in this thread use. But yes I do agree with you, let us dictate which exchanges are good (:

I'm sure Mt. gox or quadrigawhatever in canada har bullet proof terms of service.

This is exactly why markets need to be frozen after an attack. When a coin wallet is closed on an exchange it means arbitrage is no longer possible so the only trading that occurs is with the coin balances that already exist on the exchange ledger. It means that people who have a large coin balance on there (e.g. whales, coin developers and the exchange themselves) can manipulate the price because more coins at a lower price bought at another exchange or from a HoDL cannot be sent to the exchange.

This is good, if someone has the time it would be nice to find all the exchanges that have these bullshit ToS and flag them all. If anything the newbie/high probability of loss of funds flag should be placed on all of their active main forum accounts. Saying that Livecoin.net can do it because other exchanges located in belize..malta..cyprus and every other non regulated country do it is wrong and a non-argument.

Which is it? Would the 0.15 give you nothing of economic value? Or would it actually allow you to speculate on the value of 10 ETH? BTW, 10 ETH is currently worth 0.267BTC.

Your reading comprehension is way off today QS, I'll get back to you when you have something worth replying to.

lol, so you admit that you would not actually be receiving anything valuable in return?

Look, we have a "concerned" service defender here. Isn't it nice to get paid to defend the service you're advertising? I see you're a man of manners as well. Quit with paragraphs long text that doesn't mean shit just like every other of your post and let the concerned members of the forum deal with it.

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Thousands of members are victims to exchange scams every day and I'd totally support it if someone is standing against it. I like the idea of @Hampuz trying to get the user's fund back and settle it all down but a concrete medium must be established so LiveCoin doesn't fuck-over other members in the future.

I did here: Snip from Binance ToS:

"10. Termination of Agreement
You agree that Binance shall have the right to immediately suspend your account (and any accounts beneficially owned by related entities or affiliates), freeze or lock the funds in all such accounts, and suspend your access to Binance for any reason including if it suspects any such accounts to be in violation of these Terms, our Privacy Policy, or any applicable laws and regulations. You agree that Binance shall not be liable to you for any permanent or temporary modification, suspension or termination of your Account or access to all or any portion of the Services. Binance shall have the right to keep and use the transaction data or other information related to such accounts. The above account controls may also be applied in the following cases:
after Binance terminates services to you;
you allegedly register or register in any other person’s name as Binance user again, directly or indirectly;
the information that you have provided is untruthful, inaccurate, outdated or incomplete;
when these Terms are amended, you expressly state and notify Binance of your unwillingness to accept the amended Terms;
you request that the Services be terminated; and
any other circumstances where Binance deems it should terminate the services."

I've found it in several different terms of several different exchanges.

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Are you extorting me then? Since my options are either A) Send 0.15BTC to you and expect nothing in return or B) call Livecoin a scam. Am I understanding you correctly here?

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It feels to me like we need to determine what it is we are arguing here, it is taking far too many different directions.

And the part about Livecoin allegedly selling non-existent coins to their clients


Does that make them scammers? If it doesn't, then it is not a point for discussion or debate here. But you can lay out that draft elsewhere


That doesn't make them scammers, so no point in discussing it any further


That's why we need further information and more detail from the exchange. More specifically, for the case in question we need to know when exactly OP had been trading this shitcoin, i.e. after the attack and before the announcement or after the announcement. The former is the window for which he can presumably require compensation unless he was deliberately trying to milk the exchange (read, he is the real scammer)

As you can see, there is not much against LiveCoin which cannot at the same time be turned against OP


No one is going to prove you wrong because the burden of proof is on the accuser. So far no valid proofs have been presented other than locking the account. This is the part which the exchange should address

Changing the narrative? No. I am just pointing out that you are unwilling to put your money where your mouth is in claiming that what LiveCoin is doing is not a scam.

Feel free to prove me wrong.

Both!  Just because they write in their terms of service that they can shit on my lawn every morning doesn't mean it's legal for them to shit on my lawn every morning.  It's my lawn, I signed their user agreement, but there are other laws that govern where they can and cannot shit.

Exchanges are bound by law to freeze assets of known criminals, terrorists, and money launders.  That's the only legal precedent they have for freezing a clients account.  Posting mean things on social media doesn't give them the right to freeze a clients assets.  Not only that, doing so is a violation of the law, and plain old common sense.  Who the fuck does that?  You wouldn't have withheld QS's last sig campaign payment even though he was slandering you.

Not to mention their ToS sounds like it was written by some one who has never used English in daily conversation, and it's full of stupid shit like "causing troubles."  Please define "causing troubles" and explain to me how to avoid it, so as to prevent my account from being locked.  

Please find similar clauses in Coinbase's or Binance's user agreements.

So you are just going to keep changing the narrative time and time again? How about retracting your statement that Livecoin did not notify their users?

EDIT; Are you going to flag all the exchanges that traded b2x too? I know some people that lost serious money on that..

Wonderful. Please post here once you have sent the tx, since you are such a strong believe that this arrangement is entirely ethical, and in no way a scam.

It doesn't matter, the attackers had already sold fake MONAs on Livecoin until the network of Mona was stopped by team.

So is it the part of withholding their remaining funds or is it the reason for doing so? Since most major exchanges have various reasons where they can do so, livecoin are in no way unique with these terms.