MapleChange Exchange Was Hacked, Reeks Of Exit Scam

The Canadian MapleChange Exchange was hacked yesterday in the evening, with hackers supposedly taking advantage of a vulnerability that let them withdraw all of the exchange funds to separate wallets. The social accounts of the exchange declared that all of their funds were gone and that they were unable to refund them. But for some users, this was an old exit scam performed in a magistral way.

MapleChange Exchange Was Hacked

The modest and relatively new Canadian MapleChange Exchange was hacked, or it exit scammed leaving a lot of people with their funds robbed. The certain circumstances of this hack or exit scam are not well known, and the social accounts of the exchange handled the situation very poorly.
They first posted in their twitter account that “due to a bug” that allowed hackers to get hold of the exchanges account, they had lost all of their funds. Because of this, they were doing an investigation, and they would be unable to pay any refunds.
This got users surprised and unable to access their funds. But let’s be serious, even big exchanges can be (and have been) hacked. If big exchanges like Binance or other monster exchanges are vulnerable, it is worse for little exchanges that don’t have the same budget to manage security. But what’s strange is the behavior after that the MapleChange exchange was hacked announcement was spread via social networks.

Exit Scam Spotted!

The strange thing came after the hack: a normal behavior would have been to block all trading and close the exchange while a formal investigation takes place. The announcement about the refund was normal too; an investigation must be made to try to recover the crypto assets.
But instead, the exchange has taken down all of their social networks and their site is also down, meaning that they are unreachable by any means. This is why some of their users claim that the owners of the exchange performed a clean exit scam, taking into account the speed with all that happened.
While some users are out there trying to find the owner of the said exchange, it is unlikely for them to find it. The best advice that can be offered to users it to stay away from little exchanges and do not left too much money in exchanges wallets. The exchange took more than 900 BTC that are unlikely to be returned to customers. As the saying goes: “Not your keys, not your bitcoin”.

Related posts
BitcoinIndiaNewsNews 1SocialTrading View

India: Rough waters ahead as officials confident about crypto ban

Every time Bitcoin’s price rallies, traders get hopeful while regulators tend to get anxious. As the market celebrated bitcoin’s all-time high above $60k, the Indian crypto market was woken up to alarThe post India: Rough waters ahead as officials confident…

Nearly 19,000 Bitcoins (BTC) Deposited on Gemini Exchange, Coinbase Premium Negative

After hitting its all-time high above $61,500 levels on late Saturday, Bitcoin (BTC) seems under pressure at this stage. At press time, BTC has slipped below $60K levels and is trading 2.5% down at $59,666 with a market cap of…

Polkadot Price Analysis: DOT is drawing closer to a 31% upswing, eying $50

Polkadot is trading at the apex of a symmetrical triangle pattern ahead of the anticipated liftoff to 50. The resistance at $40 remains the biggest hindrance to the bullish outlook. Polkadot is among the few cryptoassets set to begin the…