One small Bitcoin exchange is in the latest crypto news and the Bitcoin scams category. Based in Alberta, Canada, the exchange named MapleChange had announced that they “had no more funds to pay anyone back.
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In order to provide a further explanation, the exchange said that they had approximately one hour before deleting its Twitter page, saying that a “bug” had enabled “some people” to withdraw all of the funds on the exchange.
Even though this case relates to the Mt. Gox and the problems it claimed earlier this year, the handling of the two cases by their administrators was dramatically different.
The MapleChange Twitter account had less than 2,000 followers. In comparison, Coinbase, one of the most popular exchanges out there, has 1 million followers on Twitter.
Many have pointed that this may be the perfect ‘exit scam’ by the exchange, mostly because there have been such cases in the crypto space, dark web, and exchanges. The recipe, according to some experts, is quite basic – gathering trust, getting all the funds in one place and running off with the money.
Starting from the domain to the social media pages, the MapleChange “hack” has everything in line with the signs of an exit scam – which is why it is very possible for the exchange to simply disappear with all of the money.
We will update the story as soon as new information becomes available.
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