About $6 million worth of Bitcoin has been lost by Canadian MapleChange that won’t be refunded according to the crypto exchange. Despite this, Bitcoin is holding steady while billionaire, Tim Draper says it is still on track to $250,000 by 2022 and will even further transform the government.
913 Bitcoin Lost by Canadian Exchange, And they won’t be Refunded
Yet another million of dollars lost in Bitcoin.
A relatively small Canadian crypto exchange, MapleChange recently revealed via Twitter that they sustained hack and have been investigating the issue only to follow up with this Tweet:
Due to a bug, some people have managed to withdraw all the funds from our exchange. We are in the process of a thorough investigation for this. We are extremely sorry that it has to come to end like this. Until the investigation is over, we cannot refund anything.
— MapleChange (@MapleChangeEx) October 28, 2018
However, despite losing about 913 bitcoin worth approximately $6 million, the small size of the exchange that has just about 2,000 followers on Twitter didn’t affect the market. Bitcoin has been holding steady at about $6,500 with less than 1 percent of movement in the past 24 hours, oscillating between the range of $6,447 and $6,503.
Bitcoin 24-hours price chart, Source: Coinmarketcap
They further Tweeted, “We CANNOT refund any BTC or LTC funds, unfortunately. We will try our best to refund everything else,” before another one, “We are sending all of the coin developers the wallets containing the coins we have left. So far, LMO and CCX have been handed over the funds.”
In response, CEO of Binance, Changpeng Zhao advised users to not use exchanges that do no offer cold wallets.
Wow, some one should rank exchanges by wallet storage. https://t.co/TffMHOnS1J
— CZ Binance (@cz_binance) October 28, 2018
Bitcoin Will Transform the Gvt. & Still on Track to $250,000 by 2022
Additionally, despite Bitcoin’s weak performance for months now, venture capitalist and billionaire, Tim Draper reaffirmed his Bitcoin price prediction of $250,000 by 2022.
“So right now, there’s $86 trillion of political currency. They call it ‘fiat’ currency, but it’s political. And I believe that that currency will slowly be eaten up by a better currency which is global, decentralized, frictionless. It’s just a better currency. Bitcoin’s a better currency. And I think Bitcoin will be one of five cryptocurrencies.”
He further shared that government will be transformed and bureaucrat can be replaced with “artificial intelligence, a smart contract, and the blockchain,” stating: