Guys, I think the 540k livecoin wallet is just the way livecoin works.
I think that everyone's livecoin "wallet" is that one wallet, and they keep track of which user owns how much in a database somewhere.
So the 540k coins are just the number of coins on the exchange. The rest are in cold storage in people's private wallets.
That being said, WTF are people doing?
STOP mining directly into livecoin.
WITHDRAW every single coin from livecoin into a cold wallet, and only deposit to livecoin when you actually want to trade.
You people have given livecoin access to 50%+ of the supply. What if the before-mentioned database gets hacked, and someone assigns all the coins to himself?
God damnit.
No, this is not right. At the moment they route all deposits (not only direct mining revenues) to their own wallet and nothing shows up in your account balance for hours/days. They control how much and at what rate dbix will be released for trading this way.
On purpose or not, this is called manipulation.. beware.