Livecoin exchange hack

2 min readJan 19, 2021

Dear community,

In connection with the hacking of the Livecoin exchange, we recommend not to make operations with ETT token until the circumstances of the hacking and the number of lost tokens are clarified. We took a snapshot of the blockchain at the date of the hack and continue to track suspicious transactions. According to our preliminary estimates, and given the overall scale of the hack, access to more than 3 million ETT tokens has been permanently lost. At the moment Livecoin does not contact us and does not respond to our requests. There is a possibility that the hacker will try to sell all the ETT tokens, thereby causing the price to fall.

The incident highlighted the need to change the main trading platform. We are now leaning towards listing on decentralized services and exchanges like Uniswap and 1inch. The possibility of listing on at least one of these exchanges is being considered. But for listing, we need to get confirmation of hacking and theft of ETT tokens from the Livecoin exchange.

We intend to contact the police if the management of the Livecoin exchange does not get in touch, and we also urge all those who have lost access to their accounts on the exchange to do the same. We do not exclude the need for a token swap.

In the near future, we will develop and publish an action plan related to hacking and include it in the roadmap for 2021. Please be patient. Our team is doing everything possible and impossible to cope with the current situation. We have set a deadline for ourselves to resolve this situation — until the end of February 2021.

Best regards,
EncryptoTel team