Canadian Crypto Exchange Goes Offline, Loses All Coins To Hackers

Albert, Canada-based Bitcoin exchange, named MapleChange, has ceased functioning. Before switching off their Twitter page, the exchange had declared on Twitter that they “[had] no more funds to pay anyone back.”

An hour before deleting its Twitter page , the firm posted a tweet saying that a “bug” had enabled “some people” to swindle all the cyptos held by the exchange. Knowledgeable readers may be aware of a similar claim made by Mt.Gox before it became defunct.

The management of the two cases by their executives was completely different. In the case of Mt.Gox, attempts were made to solve the issue, although it caused more damage. They went to the extent of manipulating the price of Bitcoin in an attempt to win back lost client funds before anybody discovered.

The MapleChange Twitter account had lower than 2,000 followers. By contrast, Coinbase has more than 1 million followers on Twitter and even lesser-known altcoin exchange C-CEX has roughly 100,000.

In short, crypto enthusiasts are often very active on Twitter and viewership on this social media platform is a fair way to evaluate the popularity of a product or service in space.

Regrettably, the MapleChange “hack” has all the symptoms of an exit scam . There’s absolutely little need for the exchange to wipe out its social media pages or totally leave in this fashion. The short span of time between the disclosure of the “bug” and the total vanishing of the exchange or its operators is yet another indication of a likely scam.

The domain itself, registered at Godaddy by someone named “Flavius p,” looks suspicious. Most professional operationsp provide a lot of details when they handle the money of general public. MapleChange.com’s latest traffic figures indicate that they were most likely doing more business over the last week than they had in latest times.