Topic: Livecoin.net Scam - page 19. (Read 13670 times)

If it was bought after the fact then the exchange would have known that they were selling tokens that they did not have possession of. The buyer may not have had such knowledge. As soon as the exchange became aware of the issue they should have frozen the markets for that coin.

While an exchange is not responsible for the MONA network and 51% attacks are hard to detect in real time - the exchange should freeze the markets as soon as they become aware of a 51% attack or attacks.

Allowing trading to continue is effectively continuing to sell something that you know that you do not have.

I offer an alternative signature livecoin





 

Just ignore it. Some people just don't read.

This is another nonsense from another provocateur. How can I show my balance if my account is blocked?

I need the exercise anyways .

You go ahead and accuse me and laugh all you want. Contrary to your belief I am not your enemy, I am just one of the few people willing to tell you the hard truth that you are only fucking yourself over here. Just because the truth is painful to look at doesn't mean I am causing the pain by pointing it out. You still have time... don't waste it running from difficult choices, because difficult choices can always run faster and longer than you.

So me trying to help and looking at this objectively and logically is me being emotional and irrational while you at the same time say that you'd like to "bash me"? Makes sense. How about everyone takes their foot of the gas for a second and take a deep breath, I've never been in such a state of clarity. If people keep bringing up my reputation and name being dragged through the mud and seemingly for (not even my highest) payout then that is on you, I'll just say what it looks like from where I'm standing. You have obviously already made up your mind and that's fine too, you do you .

Again, don't want to derail this thread, I'll post any update when I have it.

As long as you are being paid right?
Id like to refer everyone to the ~Hhampuz thread. DT1 members should not be acting or speaking like this no matter their past or connections, shady exchanges/businesses should not be able to buy DT1 loyalty like this.
I'll stop here because the rest of me just wants to bash you further but I don't want that. Get out of this emotional and irrational spot you're in and learn from it.

Edit to clarify: "Bash" as in I no longer wanted to make my reply about a personal attack and derail the thread. I do not condone violence in any way.

I am trying to help, more than anything. If it is as some say and there's nothing known about LiveCoin or who operates it then the OP runs a larger risk of losing money if I were to jump ship and point fingers instead of trying to mend the ship. But as I said earlier, I expect it to be a challenge and it is one that I won't just shrug off because it gets too difficult. My reputation/name I could not care less for.

I would be careful becoming an "advisor" to Livecoin just because you run their signature campaign. With ToS like theirs for however many years they have been operating it doesn't change the fact that what they were doing was illegal/immoral and just because they change a few things because they finally have DT1 eyes on them it doesn't change anything, just a further form of deception. This will not end well. Do not attach your name to this sinking ship any further than you have.

Regardless of OP not having shown balances and everything, Livecoin has stated their views and essentially repeated their garbage ToS aswell as calling coins like mona and monero trash coins due to the fact that the dev teams will not compensate them for having been double spent on. An exchange should have a division that monitors the coins that they list, whether it be updates, hash rates, new hardware coming online... the amount of confirmations needed before deposits/withdraws are accepted are then raised when a coin is becoming problematic. I highly doubt the Livecoin team has a department that watches and monitors these things for all of the altcoins that they have listed. Why? Cuts into their profits, they just want to list the coin and collect trading fees. The sure sign of a company that grew too big too fast and does not spend more on the increased security needed.

I would argue that if you were buying MONA after the fact, you knew what you were getting yourself into (pure speculation since price was so much lower). Since there apparently was/is a market for it I don't think any of the users that currently trade it have lost anything. But I do agree with you, however nothing can be done about that now so I'm trying.

Some things also get lost in translation I feel which makes it increasingly more difficult. I'll keep people in here posted though.

you are trying to blame me, but because you are not familiar with this topic you are not good

Probably not, it's been trading for a year so surely people have bought and sold and bought something else and withdrew etc... I doubt it could be untangled with a rollback. Livecoin really made in unnecessarily complicated by allowing a known bad coin/fork to be traded for so long.


Most of that doesn't really matter because Livecoin essentially confirmed the OP's story and the biggest problem is how they're handling it (and the forks/attacks). If the OP is shady Livecoin is welcome to present facts to that effect.

Yeah, I really have to stress I have no idea how any of this works so perhaps a roll-back for everyone that bought the fake MONA coins would work?

The first thing I did when I talked to LiveCoin was to tell them that they should look over the ToS and change it, I believe they are looking over it as we speak.

Yes, I only need my money and their apologies, I would also be happy to hear

Let's try again: OP bought MONA tokens ONE YEAR AGO. Not one week, not one month. Where he was all this time? For example, i lost 800 dollars in Wagger due to MY FAULT.  I'm not crying about "scammers which stole 800 dollars from me".
Everything is very shady in this story.
OP doesn't show proofs of his Livecoin balance (Does he has something except MONA coins on exchanger?)
OP doesn't answer about e-mail (Did he receive e-mail notifications about deposit/withdraw closing)
OP (and Livecoin too) doesn't answer about correspondence BEFORE his negative reviews (claims) on bestchange.ru and bitcointalk. Livecoin tells us that they offered to him some ways and he rejected all of them.  

But Livecoin of course looks very strange too. Keep trading on dumped and hacked coins it's beyond my understanding.


It could be hard to repeat it without scammy trade as Bitfinex did. I know it situation very well, because i was bitfinex client in 2016 and lost my funds due to "hackers" (yep, you understand what i mean by "") and in result lost 15.85 % due to shit way (maybe even "scammy") which bitfinex choosed.

I don't think Livecoin can simply enable withdrawals because they have a shitload of fake coins / are on the wrong fork, i.e. they don't have enough coins for everyone to withdraw. They need to do something along the lines of what other exchanges have done in similar scenarios, e.g. offer a compensation plan. They can still pursue their claims against developers if they want to but they shouldn't be holding their customers hostage.

And they need to unlock OP's account if it's still locked due to their ridiculous TOS "no complaint" clause.

I see, so according to what bones261 said above the price on Livecoin is significantly lower due to wallets being locked, yes?

So the best solution in this case would be something like, disable the MONA trading pair and allow users to withdraw the MONA that they own, yes? If they were to do that, would you consider yourself being made whole or would there be further issues due to the time it has taken?

Edit: to add I've never worked at an exchange and have no idea how anything works when these things happen.

because the livecoin price does not match the market

The OP is claiming to have bought Mona coins for about 40K sats each. If he was allowed to withdraw his Mona coins, he could sell his Mona coins for 20K sats for a 50% loss.(BTC wise) His only option now, if Livecoin reactivates his account, is to sell them for about 4300 sats each on Livecoin. That is almost a 90% loss.(BTC wise) If Livecoin invoked the option to make all current Mona asset holders take a haircut, the OP will probably still be better off, since withdrawals will be re-enabled, which is likely to have a positive effect on the market price at Livecoin, and if not, he can dump elsewhere.