Canadian crypto exchange MapleChange allegedly hacked or exit scammed?

Another crypto exchange was allegedly hacked or more probably exit-scammed today – this time it was a small and relatively unknown Canadian exchange MapleChange. The social media channels of the exchange swiftly proclaimed lack of funds to pay out their users and shutting down of all social media profiles.

The exchange claims there was a bug on their system which was exploited by the hacker to withdraw all funds and basically leave the exchange completely bankrupt.

I doubt this will end up like this – just a quick notification of hack, short goodbye to the users and we are out. This is real money, this is real criminal and regulators and law enforcement will definitely look into this. Crypto world has had enough of episodes like this one – scammers arranging a very timely and fitting hack for themselves, they grieve about it on Twitter and disappear from the face of the earth.

Crypto Twitter obvisously doubts “the hack” :

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Philipp Traugott
Philipp Traugott

Phil Traugott is a staff writer at CaptainAltcoin. As a trained marketing specialist for copywriting and creative campaigns, he has been advising top companies on the following topics: online marketing, SEO and software branding for more than 10 years. The topic of crypto currencies is becoming increasingly important for companies and investors and he found it very alluring and fitting for his skillset which prompted him to pivot his career towards blockchain and cryptocurrencies.

  1. I know the developer and it was a bug with their new upgrade that allowed some customers to double spend. Thant being said, the people who found the bug withdrew their funds in BTC leaving MapleChange in an impossibility to pay back their customers.
    As for the social media, they were shut down due to too many threats.

    • Thanks for the comment! However, there is no proof for what you are saying, so it is more likely an exit scam than an honest security gap exploited by a hacker.

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