Tidio Live Chat Software - Add Tidio live chat software to your website in minutes. Contact visitors and turn them into happy customers. Enhance their experience and boost your sales. Get it for Free

Must Read

Moupiya Dutta
Moupiya Dutta
She finds it interesting to learn and analyze society. she keeps herself updated, emphasizing technology, social media, and science. She loves to pen down her thoughts, interested in music, art, and exploration around the globe.

Canada’s small Bitcoin exchange MapleChange took to Twitter to announce that they have been hacked and that they are unable to give funds back to users. It reports that not only is it the latest victim of hackers, but that every penny has been stolen as a consequence of the hack.

The tweet says that they suspect it is due to a bug that “some people have managed to withdraw all the funds from our exchange. It adds we are in the process of a thorough investigation for this. We are extremely sorry that it has come to end like this. Until the investigation is over, we cannot refund anything.”

Also Read

While some cast this announcement aside, others issued further comments that made many question the situation. It still remains uncertain what the exact situation was, all signs point toward a textbook exit scam. Although MapleChange’s history dates back to the end of May, activity was minimal until last week when the daily volume reached a high of just under US$70,000, which carried into notable $30,000 daily averages for most of the week.

It is not known for certain how much funds were stored on the exchange, but total losses likely rest somewhere around US$3-5 million. MapleChange was the primary source of trading for three altcoins: Conceal Lumeno and Blur Network. Each of these coins faces a grim future as the communities are left to themselves to pick up the pieces from this unfortunate event. Conceal and Lumeno both boasted market caps above $1 million, but it’s very possible the value of the coins could drop to zero as a result of the shutdown.

Elegant Themes - The most popular WordPress theme in the world and the ultimate WordPress Page Builder. Get a 30-day money-back guarantee. Get it for Free

The exchange is not important in the market but there were roughly 1,000 users registered on MapleChange that were potentially affected; the site also enforced KYC, alluding to the possibility that their personal information may be at risk as well.

Such an unexpected occurrence raised the feeling of skepticism among many and hence questions are inevitably being raised as to whether the people behind MapleChange have involved in the deception themselves.
The attack has affected the exchange on Sunday morning, exactly at the time when users were still asleep. At the moment there is no more information on the issue and whether the funds will be able to be recovered or not.

Save up to 60% on OptinMonster

Stay updated

Subscribe to our newsletter and never miss an update on the latest tech, gaming, startup, how to guide, deals and more.

- Advertisement -
- Advertisement -

Latest

Grow Your Business

Place your brand in front of tech-savvy audience. Partner with us to build brand awareness, increase website traffic, generate qualified leads, and grow your business.

- Advertisement -

Grow Your Business

Get these business solutions, tools and services to help your business grow.
Elementor

Elementor -Join 5,000,000+ Professionals Who Build Better Sites With Elementor. Build your website with 100% visual design that loads faster and speeds up the process of building them.

WP Rocket

WP Rocket - Speed up your website with the most powerful caching plugin in the world. The website speed increase means better SEO ranking, user experience, and conversation. It’s a fact that Google loves a fast site.

Kinsta

Kinsta - If you are looking for WordPress managed hosting, Kinsta is in the leading front. Kinsta provides WordPress hosting for a small or large business that helps take care of all your needs regarding your website with cutting-edge technology.

OptinMonster

OptinMonster - Instantly boost leads and grow revenue with the #1 most powerful conversion optimization toolkit in the world. 700,000+ websites are using OptinMonster to turn their traffic into leads, subscribers, and sales.

Related

- Advertisement -
- Advertisement -