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CryptoCann™ Report: MapleChange exchange loses $6M in Bitcoin; Canadian character Polkaroo reimagined as cannabis mascot

Canadian crypto exchange MapleChange has been struggling to refund users after a software bug allowed Bitcoin to be stolen
Tokaroo mascot
A Canadian kids’ TV character has been parodied into a cannabis-smoking mascot

The Crypto Report

Canadian cryptocurrency exchange MapleChange lost $6 million worth of Bitcoin on Sunday.

The exchange notified users via Twitter that a software bug had allowed Bitcoin to be stolen, but assured customers that it would conduct an investigation, as per a Forbes report.

READ: Advanced Micro Devices misses on 3Q revenue as crypto miner demand deflates

MapleChange said that it would be unable to refund its customers at this time.

Users were concerned when the exchange deleted its social media accounts and took down its website, but it has since returned to try to make amends.

The exchange has advised users to send a private message via Twitter about the coins lost.

In other crypto exchange news, European exchange Bitstamp has been acquired by Belgium-based investment company NXMH, as per a report by The Block.

While the details of the acquisition weren’t disclosed, the price was reportedly estimated to be about $350 million back in April.

"Bitstamp has been regularly approached by suitors for quite some time. The reason why we finally decided to sell the company is a combination of the quality of the buyer, the quality of the offer and the fact that the industry is at a point where consolidation makes sense," said Bitstamp CEO Nejc Kodrič in a press release.

NXMH is a subsidiary of South Korean media giant NXC, which bought Korean exchange Korbit last year.

The Cann Report

The legalization of cannabis in select areas has opened doors for researchers looking to evaluate its effects on a variety of diseases.

Michigan State University researchers have received a $2.4 million grant from the National Institutes of Health.

READ: Pot stocks: a pause in the bull trend or a bursting of the bubble?

Researchers will try to determine if marijuana can act as an anti-inflammatory agent for patients with HIV.

“We are hoping to study the ability of various compounds in the cannabis plant to actually act as an anti-inflammatory, to prevent those cells from becoming activated,” said Norbert Kaminski, a professor of pharmacology and toxicology at MSU, in an interview with WLNS 6.

Michigan voters will have the opportunity to vote to legalize recreational marijuana this November. Medical marijuana is legal in the state under certain conditions.

Canadian cannabis legalization took place earlier this month and mascot maker Mark Scott found his own way to celebrate.

Scott is in hot water after creating Tokaroo, a cannabis-smoking parody of Canadian kids’ TV character Polkaroo, according to a High Times report.

The mascot creator appeared as Polkaroo at promotional events between 1985 and 2007 and said that the reimagined mascot lives up to the original’s motto to “Never Stop Learning.”

Far from backing down, Scott said he plans to create other mascots to continue the discussion of social issues, including LGBTQ+ character Rainbowroo and special needs character Reddyroo.

 

Contact Lenore Fedow at [email protected]

Follow her on Twitter@LenoreMariee

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