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Breaking: DragonEx hacked; exchange reports loss of customers’ funds

Priya

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Breaking: DragonEx hacked; exchange reports loss of customers' funds
Source: Unsplash

DragonEx, a cryptocurrency exchange platform that claims to be “a safe and stable platform for Bitcoin and ETH transactions,” is in the news after it announced via their official Telegram channel that its platform had been compromised. The announcement stated that the exchange lost control of its users’ cryptocurrency assets. However, the exchange did not elaborate on the exact amount of loss incurred by DragonEx.

The announcement further read,

“Part of the assets were retrieved back, and we will do our best to retrieve back the rest of stolen assets. Several Judicial administrations were informed about this cyber crime case including Estonia, Thailand, Singapore, Hong Kong etc. and we’re assisting policemen to do investigation.”

The exchange’s officials stated that the trading services provided to users on the platform will shut down. The team claimed that the exact turn of events, loss of assets and recovery details pertaining to the hack would be released in a week, adding that the exchange “will take the responsibility no matter what.”

Source: Telegram

Source: Telegram

DragonEx’s statement on Telegram stated,

“We have encountered attacks from hackers and our users’ crypto assets and DragonEx’s crypto assets are both stolen. International Policemen are investigating. Please wait for following announcement about the accurate loss situation.”

Further, an admin of the channel, Joanne Long stated that the team had tracked down the addresses the stolen funds were transferred to. Based on the data collected, they ascertained that the assets lost during the hack included Bitcoin [BTC], Ethereum [ETH], NEM [XEM], EOS, XRP, Ethereum Classic [ETC], NEO, ABBC, Litecoin [LTC], Bitcoin Cash [BCHABC], Stellar [XLM], Monero [XMR], Cardano [ADA], Ontology [ONT], Tron [TRX], Bytom [BTM], Asch [XAS], Icon [ICX], Qtum, and Tether [USDT].

Source: Telegram

Source: Telegram

These coins were then transferred to leading exchanges such as Binance, Bittrex, and Huobi. As of press time, the coins transferred from the above addresses were frozen on Huobi and Gate.io.

Notably, this announcement was made only on the exchange’s telegram account. The last update on Reddit was three days ago, while DragonEx remained silent on Twitter.





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Priya is a full-time member of the reporting team at AMBCrypto. She is a finance major with one year of writing experience. She has not held any value in Bitcoin or other currencies.

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