Crypto Exchange Livecoin Begs Users to Stop Trading After Losing Control of Servers

Cryptocurrency exchange Livecoin has suffered what it called a “carefully planned attack.”

The Russian exchange said in a web post it has “lost control of all of our servers, back end and nodes” and pleaded with clients to cease making deposits, trading or interacting with the exchange. “We were not able to stop our service in time,” the post said.

It was not immediately clear if clients funds’ were affected in the breach. CoinGecko charts indicated that Livecoin usually handles about $50 million in daily trading volume. However, in the last 24 hours volume climbed to $805 million.

Livecoin CEO Ivona Zlatova did not respond to a request for comment by press time.

This story will be updated.