Bitcoin exchange hacked MapleChange, means the customers will not reimburse

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Cryptocurrency market on Monday morning continues to be flat. Market capitalization is $209 billion the Previous 2 weeks the price of Bitcoin is in a very narrow range, the volatility of the BTC/USD has fallen so much that the changes do not exceed $100. More recently, the most dynamic and interesting market is becoming more and more lethargic. However, this lull is very deceptive.
Market events continue to occur, and not always positive. So, today, news headlines dedicated to the topic of the closure of the canadian crypto currency exchange MapleChange after it was hacked. Negativity is repeatedly aggravated by the fact that affected clients will not return the money.
The crypto currency exchange earlier repeatedly was exposed to attacks, and according to conservative estimates, the total loss for the year 2018 is estimated at slightly under $ 1 billion.
According to the study CipherTrace, hackers were able to steal cryptocurrency exchanges since the beginning of the year 927 million US dollars. This figure already exceeds 2.5 times the results of the 2017 year.
In this case, after the hacking of major sites sometimes exchange refund customers their damages fully or at least partially. So did the platform Coincheck, Bithumb, Binance and others.
But the small crypto currency exchange, like MapleChange, there is no way to indemnify anyone, as explicitly stated by the representatives of the canadian company, then deleted accounts platform in social networks.
However, the people involved in the trade of crypto-currencies do not belong to those who can complain of his ignorance and inability to find information. Because just a few hours after removal of the accounts of the crypto currency exchange, a group of investors calling themselves “Maplechang’ed” found CEO and published his name and address on Twitter.
CEO MapleChange was the technical specialist of the company American Equipment Pildriving Glad Poenaru. After it became known his name, the Twitter account of the exchange again restored, and the company wrote that it is not planning to disappear, just its leadership must reflect on the decision, and disabling the accounts was temporary. The exchange will open up wallets for all users, so they can withdraw the money that they have left.
Total losses are not yet known, but noteworthy is the fact that the own funds of the exchange was meager compared to client turnover. Such a conclusion can be made according to the request of a customer to compensate a loss of $ 93 bitcoins ($594’177 at current exchange rates) on the stock exchange replied that she never had more than five bitcoin ($31935 at the current rate), even in the most active time.
Representatives MapleChange confirmed that they will be able to return the funds in Bitcoin and Litecoin, when told that he will retain and Conceal the tokens Lumeneo, which are almost not traded on the other exchanges.
According to research organizations investigating crypto break-ins, actual statistics of total amounts of losses are much more disappointing than the $927 billion Company CipherTrace is that many companies have simply not informed the police about such incidents. Needed solution for the industry would be the obligation to insure clients ‘ deposits and/or to have a special reserve Fund. Although such requirements and would be only the major players, this would lead to the purification of the industry from uncompetitive companies.
Olga Prokhorova,
“International Financial Center”