Post
Topic
Board Exchanges
Re: LiveCoin.net > Buy/Sell/Exchange BTC/LTC/DASH/EMC & USD/EUR/RUR
by
ucehp
on 13/04/2018, 13:02:59 UTC
Bottom line: they don’t respect the blockchain, but they create their own truth. They deleted my account (with funds still in them) after I provided them, politely but clearly, with an ultimatum: credit my deposits or I’m going to explore my legal rights. On what terms was my account deleted and all funds stolen?

Expect to lose money if you are an active trader. These guys offer no support on mistakes that can easily be resolved, period. Other exchanges often offer support when you make small mistakes (e.g. using smart contracts when officially not supported or memo mistakes), they guys will just say: your funds are lost. It’s legally a grey area as they can point to their terms and disclaimers.

However it is worse than just no support. I’m convinced they are also purposely scamming customers for their own gain (you deposit, they create situations to not credit you, they sell your deposited funds). I’ve had 2 experiences:

1.   I’ve bought a coin on day one and wanted to withdraw it on day two. This was no longer possible as they delisted the coin from their exchange (and removed the withdraw function at the same time). When I contacted support they pointed out that this was mentioned in their news section. Which it was, a month before.. I’m not reading their news section with 50 posts a month. I never got my money back. You can’t just let me buy something and not let me withdraw it anymore after less than 24 hours.

2.   I’ve regularly deposited BTC to my Livecoin wallet address. At some point I noticed my BTC deposit wasn’t credited. Apparently they posted in their news section that they changed the deposit addresses, they didn’t email me or showed a notification in my account clearly. Even though I’ve made multiple deposits to the old address after the news post, they didn’t warn me. When contacting support they claimed the old wallets were no longer accessible: your funds are lost. However I noticed they moved the funds out of the wallet 3 weeks later, and I still never got these funds credited.