Maple Change hacked, deletes twitter, discord and takes all customer funds
Another day, another cryptocurrency exchange hacked. Maple Change, a small crypto exchange pulled off an exit scam, taking all customer funds with them. While Maple Change twitter account earlier said that they got hacked, many have concluded it is an exit scam since they have deleted discord, twitter and taken their website offline.
In fairness, we don’t know if exchange was hacked or if it was an exit scam. But if it was a hack, exchange is handling this extremely poorly. Don’t shut down website and social media – tell people exactly what’s going on.
The exchange used to have meager daily volume of $3000-5000 dollars which suspiciously rose to 40,000 dollars prior to hack.
There is no incentive for using less known / small exchanges as they often focus on maximizing profitability, not security or investor protection. However, not every coin has the funding to get on well known exchanges.
Do not store any coin on exchange for long term. Withdraw them if you are not trading them. Exchanges do not give you the private keys to your wallets. Not your keys, not your money.