Topic: Livecoin.net Scam - page 24. (Read 13670 times)

     This seems highly irregular on how your exchange is handling the 51% attack on MonaCoin over a year ago. I realize that you tried to get the Monacoin developers to compensate your exchange for the loss incurred by double spends/invalidated coinbase coins; however it is abundantly clear that they are not going to compensate anybody. I really do not see how this is the development team's fault, any way. All POW coins are vulnerable to a 51% attack, although some coins have a more robust network of miners, so a 51% attack is not feasible.
   I read your term of services, and to handle such situations, you give two possibilities. One was to go after the development team. However, Monacoin was not an ICO and it it did not start out with a premine. Therefore, even if they were responsible, I do not see how they would have the deep pockets required to compensate exchanges/pools/individuals for an act done by a malicious miner. Your second option was to socialize the loss. However, the fact that your exchange continued to allow people to trade this coin probably has made implementing this option a nightmare. I find the fact that your exchange did not disable the trading on this coin when you disabled the wallet highly irregular.
  I realize that the 51% attack was not your fault either. However, now you are in a situation where you are holding your client's Monacoins hostage. Your exchange should have disabled trading and socialized the loss, rather than let this mess get even more complicated after a whole year.

Edit:Supporting this flag. Livecoin should have implemented the second remedy, that I have bolded, in a timely manner.

 

FYI, it's customary to pay the customer his money before expecting negative public complaints to be removed. He's using this as leverage to get what is rightfully his. I see nothing wrong with that.

Do you seriously think you can hide behind your terms as a pretense to rob your customers in open sight? Merely stating that you will steal customer funds for breach of terms -- terms which you can and have changed suddenly and without notice -- is not legal justification to do so. The actual damages arising from that alleged breach are not equal to whatever you decide to steal from your customers. I don't know who your legal counsel is, but your actions would not be legally justifiable in any respectable court of law.

I recommend you tread carefully here.

Both Hhampuz and pandukelana2712 (who is wearing a LiveCoin signature) both are opposing the flag.

It appears that signature campaign that pays both these members has benefits beyond the advertising.

"Negative effects"?

Your Personal Text says "LiveCoin - is a modern stock exchange".

You guys aren't acting like professionals but like roadside parsley sellers.

You have no right to keep the funds regardless of what "information" the customer published. You can terminate your service to the customer if they violated the user agreement but you need to return their money.

Communication and relationship between client and Exchange is regulated by User agreement, which every user accepts at registration. There is no way to register without accepting the user agreement. However, rarely, some clients ignore and flagrantly breach the User agreement.

For the first time of violation of rules, we just warn client, but in case of repeatedly violations, account may be blocked for verification and further investigation. But, even in this case, we allow to withdraw all funds after the removing of false information and consequences caused by this publication. In some cases, verification may be required by the security team.

This is exactly what happened to the said client. This client created a ticket with a demand to enable withdrawal of MONA for his account, what is absolutely impossible because of the attack on the MONA network and public refusal of the developers to bear responsibility for that. We replied to the client with the explanation regarding MONA asset, but he decided to start spreading false allegations, publicly accusing the Exchange of fraud, and thus misleading the other clients.

The client is clearly provoking a conflict, ignoring all suggested options of settlement. Earlier this client said that all information, violating the user agreement had been removed, but the investigation found out that, on the contrary, there is much more such information now. All further discussions of this issue will be held solely with the client and only after eliminating all negative effects.

I need to wait for their final statement that they will not return anything to me, or their answer here. This is necessary so that they could not lie, because they are inadequate in correspondence with me, they constantly threaten me that they will take everything away, without giving concrete evidence of violations, only offenses.

although, okay, as long as I can show something, there is only a chronology of the messages he sent, there is no sense in translating messages without replies, I will do it later

I'm supporting izoomrud to his accusations but more proof of conversations must be shown, @izoomrud please don't be scared to fight what you think is right. Based on what I've seen, it seems that they can always change their user agreement anytime. I don't see any point on what they've said that you must not disclose anything about them, if they are fair enough and doing the right thing then why?

Negative feedback that cause commotion and has been solve will be a good thing to their exchange but dodging their responsibility to respond clearly is a pure negligence.

It's much better for LiveCoin to explain their side also and stop ignoring.

they can answer if they have something to say
https://bitcointalksearch.org/topic/please-delete-2359799

If they start answering here, everyone will realize that they have lost the coins of their users, and many will begin to demand a return, but they do not want to do that. Until the last moment, I did not publish a full post about the whole problem until I was threatened in my emails.
They frighten me with the loss of all funds so let them now have a loss

It seems their strategy is to ignore accusations, and allow their supporters to ignore and distract from evidence of theft, and scamming.

I think they have a policy of not discussing anything like this here at bitcointalk. Just like they state in their thread that they won't respond to any questions as they only post updates.

I have sent them a PM about this though and we'll see.

Why aren't they responding? Livecoin has been online on bitcointalk and he has probably seen his this thread as it was linked to in his own topic.

I'm supporting the flag (for now).

Even if you were lying, this would not be an acceptable reason for them to withhold your money. No, it is not normal for a business to act this way.

Hi guys! I have some news from livecoin support.
They wrote that in my posts I lie about them and thus violate the terms of the user agreement! And so I have to delete all my messages so that I can get my money back! Is this normal, and should a decent exchange behave like this? o_o
I have a feeling that they are constantly coming up with new rules that I break!
If I lie to everyone, then why has their representative not yet appeared here and announced this?
And I will tell you why they are not here! They can say nothing in their defense, except for their stupid rules, from which everyone is shocked. They can’t say anything about their fault in losing Mona. They understand that they have no excuses, but they have enough impudence to continue to intimidate and accuse me!

If a Livecoin representative comes here and proves that I am really guilty of something and that I am a liar, then I will not demand a refund and will delete everything I wrote!

Trash continues...

Support

Today I received a letter from them and realized that they would not return anything, and at the same time they did not name the cause of the block, but they said that I myself should look for it in their rules, this is simply incredible idiocy! I do not leave feeling that I communicate with a child or with a crazy person on the other side. But I do not have an unequivocal answer from them that they are taking everything from me, so I still can not publish their answers, but I posted a full description of what happened in the first message, please read, this is very interesting

that's incredibly shady! i've never seen anything like that in a TOS before. account termination is one thing perhaps, but threatening to steal the user's money?

i was thinking about using them to convert some bitsend at some point. maybe i'll avoid that now.

Since they continue to ignore me and illegally withhold my money, I decided to publish the full history of developments in the main post, I will do it today or tomorrow

The OP has created a flag against Livecoin:
https://bitcointalk.org/index.php?action=trust;flag=308

thanks, that's good advice