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MapleChange Hacked: $6 Million Stolen From Canadian Bitcoin Exchange

MapleChange shutdown after the hack

MapleChange, a bitcoin exchange in Canada, saw $6 million stolen by hackers.

MapleChange Hacked: $6 Million Stolen From Canadian Bitcoin Exchange
Source: Shutterstock

According to MapleChange, hackers were able to exploit a bug in its system to gain access to the exchange. In doing so, these hackers were able to withdraw all of the bitcoins that were stored on the exchange.

MapleChange was a fairly small bitcoin exchange. As such, there was only a little more than 900 bitcoins on the exchange. However, at current prices that still has $6 million being stolen by the hackers.

MapleChange says that it is looking into the incident, but it has already closed down its website. It has also gone quiet on social media following its initial announcement about the hack and theft.

Unfortunately for users of the exchange, they likely won’t be getting any of their money back. MapleChange says that it can not provide refunds to customers due to all of the bitcoins being stolen. This has lead to more calls for regulation of the virtual currency, reports CoinAnnouncer.

While the MapleChange incident is definitely bad news for investors that were making use of the exchange, there is one bright note from all of this. The current price of bitcoin remains relatively unchanged following the news.

This is likely due to MapleChange being such a small exchange for the virtual currency. While the theft does have a hefty sum to it, the amount of bitcoins stolen only represent a small part of the total sum, as do the investors trading on the exchange, Forbes notes.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2018/10/maplechange-hacked-and-closes/.

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