Canadian Crypto Exchange MapleChange’s Alleged Theft Spurs Rumors of Exit Strategy Scam
Canadian Crypto Exchange Experiences Alleged Theft, Spurring Rumors of Potential Exit Strategy Instead
MapleChange is one of the latest cryptocurrency exchanges to come from Canada, but they recently experienced a loss of their funding, which allegedly included 913 Bitcoin, which was valued at $5.9 million at the time of the loss. However, due to the surrounding circumstances involving the loss, many experts in the industry are wondering if it is truly the theft that MapleChange claims, or if it is a way to swindle all of its users out of the funding they have invested.
To help eradicate the rumors that MapleChange is using the “loss” as an exit strategy, they have promised to users that they will be investigating. However, they stated that they were unable to provide any refunds right now. On the post, they added,
“We are extremely sorry that it has to come to end like this.”
It seems that, especially by ending the post with that sentiment, it does not seem to have helped the matter very much.
There are some websites that say that the original tweet, one that said that the company was shutting down their businesses and social media presence, had been deleted. About five hours later, they came back to dispel rumors that they were jumping ship on their project, saying:
The week before the reported hack, MapleChange was experiencing some success with a major surge in activity. After reaching just about $3,000 in their daily trading volume for the majority of October, it seemed to bounce between $10,000 and $65,000 in the few days before the hack. It dropped back down to about $5,000 when the website maintenance occurred on October 27th. When the hack happened, the two pairings that saw the most trades included CCX/BTC and LMO/LTC.
Of the tokens that MapleChange still has in their possession, they plan to refund the amounts back to the developers. So far, it claims to have returned funds to Lumeneo (LMO) and Carbon Credit Coin (CCX).
And avoid using exchanges that doesn't have anything in their cold wallets.
— CZ Binance (@cz_binance) October 28, 2018
As of the time of this publishing, they have returned the following coins to developers: