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Crypto Exchange MapleChange Says Only $40,000 Hacked Not $6 Million

Comedy hour. After some tabloid crypto-media reported a tiny exchange was hacked out of  919 btc, worth  about  $6 million, the exchange in question has come out to say it was actually just eight bitcoins.

“The negative balance was used in order to fully buyout every market the attackers felt like, they were able to sell without limitations and accumulated 15 BTC of non-existent funds. Out of which they only managed to withdraw what he had in total – 8BTC,” MapleChange says.

The exchange previously showed a picture of 919 btc in trading volumes. That seems to have led to the assumption among tabloid crypto reporters that trading volumes means actual coins.

That’s when this exchange was previously handling trading volumes of only circa 2 BTC a day. Meaning they were very, very, tiny.

“Irrelevant of what the media has spewed out about us, I’d like to bring to light our point of view, should you choose to believe it or not. We have NEVER had 919 BTC in our wallet, the picture that displayed so showed the volume abuse caused by the hackers,” they say.

We were trying to find out their wallet to see what was going on, but came up with only tiny amounts. Now that they’ve confirmed this is all just circa $40,000, we’ll leave any further investigation to the authorities.

This chain of events is somewhat perplexing, however. They announced a bug had led to a hack, so they had to close down. Accusations of exit scams were reflexively made, with some tracking down what they believe is the exchange’s CEO.

Changpeng Zhao of Binance tweeted about it, with this “story” seemingly “broken” by Joseph Young.

It isn’t very  clear who first came up with this $6 million figure. Nor is it clear whether a slight recent price fall for most cryptos – down 2%-3% after some long stability – is related to this little theft.

What do you think?

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Written by Ravikash

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