Current Events > Crypto crash lower on crypto exchange after news that 913 bitcoin were stolen.

(+) Yeah! (+)

https://www.fool.com.au/2018/10/30/bitcoin-ethereum-ripple-and-bitcoin-cash-crash-lower-on-crypto-exchange-theft-news/

Traders have been hitting the sell button in a hurry after Forbes reported that hackers had stolen 913 Bitcoins from a small Canadian cryptocurrency exchange. According to Forbes, the MapleChange exchange attempted to reassure users that the US$6 million theft will be thoroughly investigated but warned that it would be unable to make refunds. It then deleted its social media accounts and took its website offline. This news appears to have spooked traders and reminded them of the dangers involved in buying cryptocurrencies and how theres little that you can do if they are stolen from you.

Here is the state of play at the time of writing compared to 24 hours ago: The Bitcoin (BTC) price is down 2.3% to US$6,326.20 per coin, reducing the crypto giants market capitalisation to US$109.75 billion. The Ethereum (ETH) price has fallen 3.9% to US$196.39. This decline leaves Ethereum with a market capitalisation of US$20.2 billion. The Ripple (XRP) price has dropped 4.4% to 43.83 U.S. cents. This has reduced the XRP market capitalisation to US$17.6 billion. The Bitcoin Cash (BCH) price has tumbled 4.7% lower to US$416.65 per token. The Bitcoin Cash market capitalisation has fallen to just under US$7.3 billion following this decline. The EOS (EOS) price is down 5.1% to US$5.13 per token, leaving EOS with a market capitalisation of US$4.65 billion. Outside the top five the declines continued with Stellar (XLM) falling 3.9%, Litecoin (LTC) dropping 5%, Tether (USDT) sliding 0.2%, Cardano (ADA) tumbling 5.1%, and Monero (XMR) falling 2.2%.

That is so sad 6 million in crypto stolen and they might not be able to give refunds.
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lol at people who still have bitcoin.
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BlueTigerLion posted...

lol at people who still have bitcoin.

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According to Forbes, the MapleChange exchange attempted to reassure users that the US$6 million theft will be thoroughly investigated but warned that it would be unable to make refunds. It then deleted its social media accounts and took its website offline.

yes, I'm sure those bitcoins were "stolen" by "hackers"
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Hmm glad I didn't use the mall vending machine to buy bitcoin when I saw it yesterday.
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913 isn't even enough to buy a pizza. You need 10,000 for that.

thronedfire2 posted...

According to Forbes, the MapleChange exchange attempted to reassure users that the US$6 million theft will be thoroughly investigated but warned that it would be unable to make refunds. It then deleted its social media accounts and took its website offline.

yes, I'm sure those bitcoins were "stolen" by "hackers"

The company explained the "bug". It does seem like a scam.

https://bitcoinexchangeguide.com/canadas-maplechange-cryptocurrency-exchange-gets-hacked-loses-all-funds-in-exit-scam/

The company explained that they had a bug that allowed an attacker to withdraw all the funds held by the exchange. Something that has also affected the community, in this case, is that the exchange decided to eliminate its Twitter and other social media accounts.

In general, if a platform is hacked, they do not have to delete the social media accounts or disappear from one moment to the other. When such things happen, the owners of the exchange or platform should inform the community about the problems that it has encountered. At the same time, there is a very short time between the first message related to the attack and the second message informing the whole situation. Twelve minutes after informing that they were investigating the issue, they wrote that the exchange was in the process of a thorough investigation for this. Two more tweets were written, one saying that they have no more funds to pay users back and that the platform was hacked and manipulated.
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It dropped by 2%, man that's not a cryptocrash. That shit was worth over 3 times the current price last December and you're calling down 2% from yesterday a crash?
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ssjevot posted...

It dropped by 2%, man that's not a cryptocrash. That shit was worth over 3 times the current price last December and you're calling down 2% from yesterday a crash?

The market blew its load months ago and now it's just sadly shrinking back slowly.
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SodomInsane posted...

they might not be able to give refunds.

They can't if crypto is 100% untraceable, and if it's not, then it's got some bigger problems.

Bitcoin is meant to be tracable (to a degree). It is not a privacy coin like Monero. I mean the entire point of the public ledger is to be able to see all transactions.
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